Despite its rapid growth and significant position in the commercial Internet services market, the company was never profitable. A management team of inexperienced, young people was replaced in March 2000 by a more seasoned team of professional managers from companies like MCI, but its acquisition spree was too overwhelming for them to manage, in addition to the executives with a voice-based telecom background (circuit-switched) did not completely understand the nuances of a packet switched network. It was a popular stock with analysts during most of the dot-com boom because of its rapid revenue growth and aggressive expansion plans, but by 2000, PSINet was beginning to struggle. The company lost more than $5 billion in 2000 despite having close to doubled annual revenues to $995 million. Some analysts point to the Metamor acquisition as the turning point for the company, burdening it with the demands of integrating business operations while it was already struggling with significant debt from its earlier acquisitions, and facing a general slowdown in the computer services industry. However, the company had missed earnings estimates the year before, and was said to be looking to sell parts of its operation in late 1999.