Feb. 6, 2007
Santa Clara, CA – February 6, 2007 – On the heels of the most successful year in its history, TeleNav Inc. was recently showcased by mobile industry analyst firm IDC as a pioneer in delivering GPS-enabled, location-based services (LBS) on mobile phones. Featuring TeleNav in its annual report entitled “Ten Emerging Mobile Players to Watch in 2007” (Doc #204820, Dec 2006), IDC named the company in the report because of its unique technical capabilities, strong relationships with wireless carriers and its increasing brand recognition in the industry. According to Sean Ryan, IDC mobile analyst and author of the report, "IDC selected TeleNav as one of the ten emerging companies to watch because of its unique capabilities including 3D mapping, the ability to search for points of interest along a predetermined route, speech input of destination address, and population of the city field by nearby cities - limiting the need to key in information." The IDC report comes at the close of a year full of achievements and milestones for TeleNav. In 2006, the Company: • Secured $30 million in private funding. Investors included leading venture firms Menlo Ventures, Lehman Brothers Venture Capital and existing investors iGlobe Partners and Sycamore Ventures. • Doubled its worldwide workforce, ending the year with a global team of more than 300 employees. TeleNav also strengthened its management team with the addition of Douglas Miller as its chief financial officer. • In addition to implementing a significant marketing and sales push with its long term partner Sprint Nextel, TeleNav also launched its TeleNav GPS Navigator™ solution with three new wireless carrier partners in the U.S. - Cingular Wireless, now the new AT&T, Alltel Wireless and SouthernLINC Wireless. TeleNav also launched the service internationally with Vivo in Brazil and China Mobile. • Expanded its line-up of compatible devices to include multiple BlackBerry® handsets from Research In Motion, all Palm® Treo™ smartphones currently available in the U.S., and many other popular business PDAs and consumer mobile phones. TeleNav GPS Navigator™ can now be used on far more wireless phones and PDAs than any other GPS navigation solution. • Continued product leadership with the launch of multiple unique technologies including full color, 3D moving maps on mobile phones and PDAs; intuitive and corrective easy key-pad destination entry; search “along the route” (ATR) Business Finder; and a combined solution for navigation and tracking all on one mobile device. “2006 was a momentous year for the TeleNav team and we are honored by IDC’s recognition of our accomplishments,” said Dr. H.P. Jin, president, CEO and co-founder of TeleNav. “Heading into 2007, we are looking forward to an even more exciting year of new technology advancements, service offerings, strategic partnerships and growth.” In 2007, the Company plans to continue to develop new and pioneering technologies for TeleNav GPS Navigator and TeleNav Track, work closely with partners to drive more awareness for phone-based navigation solutions, and expand partnerships and product availability both internationally and domestically. “The market for GPS-enabled services on mobile phones has multiplied as more people realize they do not have to invest in expensive navigation-only devices in order to enjoy a high quality experience,” said Jin. “We expect continued demand for top-of-the line LBS services that are innovative, yet also relevant and easy to use. The launch of our new TeleNav Traffic service last month is a good example of this and has kicked us off to a great start in 2007. We will continue to delight our customers and our partners with high quality services and support.” More information on TeleNav and the company’s portfolio of wireless location-based services can be found at www.telenav.com. The companies named by IDC as Emerging Wireless Players to Watch in 2007 were identified for their strategies and attributes, including: market creation, innovation, vision, and potential. More information on IDC’s “Top Ten Emerging Mobile Players to Watch in 2007” report can be found at www.idc.com.
TeleNav, Inc. is a leading provider of consumer location-based services (LBS), enterprise LBS and automotive LBS. TeleNav's solutions provide consumers, wireless service providers, enterprises and automakers with location-specific, real-time, personalized services such as GPS navigation, local search, mobile advertising, mobile commerce, location tracking and workflow automation. TeleNav's technology is available across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav's service providers and partners include AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, Ford Motor Company, NII Holdings, Rogers, Sprint Nextel, Telcel, T-Mobile UK, T-Mobile USA, U.S. Cellular, Verizon Wireless and Vivo Brazil.Back to Press Release Index