Metro One Telecommunications
| Company type | Public |
|---|---|
| Industry | Telecommunications, Mobile commerce |
| Founded | 1989 |
| Founder | Patrick M. Cox, Russell V. Davis, Kevin Anderson |
| Headquarters | Sheridan, Wyoming , United States |
Key people | Elchanan Maoz (Chairman), Bianca Meger (CEO), Duane Fromhart (former CFO), Kenneth Peterson (former Chairman) |
| Products | Directory Assistance services, Infone (411 and concierge service), Mobile commerce solutions |
Metro One Telecommunications is an American corporation headquartered in Sheridan, Wyoming, specializing in both online and offline mobile commerce solutions tailored for retail clients.
History
Established in 1989 by Patrick M. Cox, Russell V. Davis, and Kevin Anderson, Metro One transitioned into a public company following its initial public offering in 1996. By 1999, the firm had secured a contract to deliver advanced Directory Assistance services to Nextel Communications, a partnership that ended in 2005 after Nextel was acquired by Sprint.
At the height of the dot-com boom in 2001, the company achieved a market valuation of $1 billion. Two years later, in 2003, Metro One introduced Infone, a consumer-oriented 411 and concierge service, which was discontinued in 2005.
Key management shifts included Duane Fromhart stepping into the role of chief financial officer in 2004. In 2005, Kenneth Peterson purchased an 8.8% ownership interest and subsequently assumed the position of chairman in 2007.
Confronted with operational difficulties, Metro One shut down its call centers located in Charlotte and Orlando during 2008 and proceeded to wind down its operating business by the end of that year.
In December 2018, Everest Fund, led by Tel Aviv-based investor Elchanan Maoz—who also became chairman—acquired Metro One. The company expanded its portfolio in March 2021 by purchasing Israeli technology enterprise Royal App Ltd and appointed Bianca Meger as chief executive officer.
To facilitate its shift toward a SaaS-driven mobile commerce platform, Metro One secured $1.98 million through its initial equity offering following bankruptcy in November 2021.