Business Services Industry
Burlington, Mass., Service Provider to Online Advertisers Shuts Down.
Knight Ridder/Tribune Business News, June, 2001
By Beth Healy, The Boston Globe Knight Ridder/Tribune Business News
Jun. 15--Burlington-based iWant.com, a service provider to online advertisers, shut down yesterday, two weeks after letting the last of its employees go, people close to the company said.
The failure is a rare one for Matrix Partners, a Waltham venture capital firm that has one of the best investment records in the business. Matrix, which is best known for telecom and networking deals, such as Sycamore Networks and Sonus Networks, has boasted that it did fewer dot-com deals than its competitors.
Matrix took the lead in iWant's first round, of $3.3 million, in 1999. Founded in May of that year, iWant raised another $7 million in 2000 from Matrix and Pequot Capital Management of...
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