Back
Oct. 31, 2008
TeleNav Press Release:
TeleNav Ranked Number Five in Deloitte's Technology Fast 50 Program for Silicon Valley Internet, Media, Entertainment and Communications Companies
Attributes increase in awareness of cell phone GPS services to its 14,087 Percent Revenue Growth
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.
Click here to subscribe to TeleNav press releases
Media Contacts
Mary Beth Lowell
425-531-0122 phone
marybethl@telenav.com
Todd Witkemper
408-306-6677 phone
toddw@telenav.com
About TeleNav Inc.
TeleNav, Inc., is a privately-held company headquartered in Sunnyvale, California. Deployed by 15 carriers in 29 countries, TeleNav is a global leader in wireless location-based services (LBS). Currently, the company’s solutions are available in four continents, including North and South America, Asia and Europe.
TeleNav’s solutions include GPS navigation, Mobile Resource Management (MRM), social networking and local search. The company’s flagship service, TeleNav GPS Navigator™, offers functionalities comparable to in-car systems and standalone navigation devices, such as automatically-updated maps and business locations, full-color 3D moving maps, traffic alerts with one-click rerouting, location-sharing, business reviews, speech recognition, Wi-Fi hotspot finder, gas price finder and more. TeleNav also delivers its award-winning navigation service on the TeleNav Shotgun™, a standalone GPS personal navigation device (PND) tailored specifically for business travelers. TeleNav’s enterprise application, TeleNav Track™, incorporates GPS-enabled tracking, time sheets, wireless forms and navigation.
TeleNav services are available on more than 500 wireless devices and run on most major mobile platforms currently available. TeleNav’s service providers include . TeleNav’s partners include Ford Motor Company, Hewlett-Packard, HTC, INRIX, LG, Motorola, NAVTEQ, Nokia, Palm, Qualcomm, Research In Motion (RIM), Samsung, Sanyo and Tele Atlas.
For more information on TeleNav, please visit www.telenav.com.
About Deloitte
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
