Oct. 24, 2007
Sunnyvale, Calif. – October 24, 2007—TeleNav, Inc., the first company to launch a GPS service for cell phones in the U.S., has been ranked third in Deloitte’s Wireless Fast 50 Program, a ranking of the 50 fastest growing wireless companies by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. TeleNav has also been named a finalist in Deloitte’s prestigious Technology Fast 50 Program for Silicon Valley, a ranking of the fastest growing technology, media, telecommunications and life sciences companies in the region. Rankings are based on the percentage fiscal year revenue growth over five years from 2002-2006. TeleNav’s President, CEO and Co-Founder HP Jin credits the company’s focus on innovation and the growth of GPS-enabled cell phones with the company’s 16,666 percent revenue growth from 2002-2006. “We pride ourselves on being at the forefront of the location-based services industry, and have an exciting track record in market innovation,” said Jin. “We were the first company to bring a GPS service to mobile phones in the U.S., and are currently the only company to offer a mobile application that includes 3D GPS navigation, social networking, one-click traffic rerouting, cheapest gas prices and local search, all in one. We are also providing GPS services to thousands of companies through our enterprise LBS application which includes mobile tracking, dispatching and navigation.” “The wireless industry is on the cusp of great changes as new technologies such as WiMax and 3G upend the market, and yet we are only scratching the surface of what is possible,” said Phil Asmundson, vice chairman, US Technology, Media & Entertainment and Telecommunications, Deloitte & Touche USA LLP. “Our first-ever Deloitte Wireless Fast 50 awards underscore the potential for both innovation and business performance in this evolving sector. These companies have achieved sustained growth while navigating constant change, and are beacons of a promising future for the wireless industry.” To qualify for the Wireless Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006. They must own proprietary wireless technology or proprietary wireless intellectual property that contributes to a significant portion of their operating revenues, or devote a significant proportion of revenues to the research and development of wireless technology. Using other companies’ wireless technology or intellectual property in a unique way does not qualify. Companies from the Wireless Fast 50 program are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Wireless Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About Telenav, Inc.
Telenav is the leader in personalized navigation. Our mission is to help reduce stress, improve productivity, and make life more fun for people on the go.
Our personalized navigation apps like Scout help people make smarter decisions about where to go, how to get there, and when to leave. Our location-targeted advertising platform Thinknear delivers highly-targeted advertising for national brands and small businesses at locations that drive consumer behavior to the advertisers' goals.
Our products are found in mobile app stores, distributed through our carrier partners (AT&T, Sprint, T-Mobile, and U.S. Cellular), embedded in connected cars (Ford), and on the web at www.telenav.com, www.scout.me and www.thinknear.com.
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