Oct. 31, 2007
Sunnyvale, Calif. – October 31, 2007—TeleNav, Inc., the first company to launch a GPS service for cell phones in the U.S., has been named the first place winner 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 by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on percentage revenue growth over five years from 2002-2006. TeleNav’s President, CEO and Co-Founder HP Jin credits the company’s dedication and determination for its 16,666 percent revenue growth from 2002-2006. “Throughout our company’s history we continually encountered challenges, both economically and technologically. Despite these obstacles, we always believed in the potential GPS services presented to the wireless industry and continued to push forward. We wouldn’t be where we are today without our uncompromising customer focus and positive approach. We are extremely proud of our growth and current position as a market leader.” TeleNav’s increase in revenues of 16,666 percent from 2002 to 2006 resulted in a #1 ranking in the Internet, Media & Entertainment and Communication category of the Technology Fast 50 for Silicon Valley. The average increase in revenues among companies who made the Technology Fast 50 was 1,455 percent. “Deloitte’s Silicon Valley Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Mark Jensen, partner and national director, Venture Capital Services, Deloitte & Touche LLP. “We applaud the successes of TeleNav and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.” “TeleNav is a great place to work, grow and win. Most of our employees who were with us five years ago are still working at TeleNav and still have the same unparallel passion. I am sincerely grateful to all of our team members and our partners for helping to achieve the winning results. We are looking for more talent at all levels and functions to help to continue to build a great company together,” continued Jin. To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in Silicon Valley and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify. Companies from the 16 regional Technology Fast 50 programs in the United States and Canada 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 Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com. This year’s Silicon Valley Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Silicon Valley Bank, Cooley Godward Kronish LLP, Korn/Ferry International and Woodruff-Sawyer & Co.
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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