Oct. 31, 2008
SUNNYVALE, Calif. — October 31, 2008 - TeleNav, Inc. has been named to Deloitte's Technology Fast 50 Program for Silicon Valley Internet, Media, Entertainment and Communications companies. This year’s Silicon Valley Technology Fast 50 program is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services – A Wells Fargo Company. Rankings are based on the percentage revenue growth over five years from fiscal year 2003–2007. TeleNav's CEO, HP Jin, credits an increase in consumer and enterprise awareness of cell phone GPS services with the company's 14,087 percent revenue growth from fiscal year 2003–2007. Jin said, “Not only are consumers more aware of services like GPS navigation, but enterprise organizations are also quickly adopting GPS-enabled services to help improve their business operations.” TeleNav's increase in revenues of 14,087 percent from fiscal year 2003 to 2007 resulted in a fifth ranking in the Technology Fast 50 for Silicon Valley. The average increase in revenues among companies who made the Technology Fast 50 for this region was 3,049 percent. “To rank on Deloitte’s Technology Fast 50, companies must have phenomenal revenue growth over five years,” said Mark Jensen, Managing Partner, National Venture Capital Services, Deloitte & Touche LLP. “TeleNav has proven to be one of the fast-growth success stories in Silicon Valley, and we applaud their dedication to making their vision a reality.” To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in fiscal year 2003 and $5,000,000 in fiscal year 2007, be headquartered in the San Francisco Bay Area, 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 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.
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.
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.Back to Press Release Index