July 15, 2014
SUNNYVALE, CA - July 15, 2014 — Thinknear by Telenav (NASDAQ: TNAV), today announced the release of Location Score™ Tags, an extension of its Location Score technology. Location Score Tags are a tool for mobile advertisers that can be used to assess the quality and accuracy of the location data used to target mobile advertisements. The tool, which was first announced on Street Fight, can be used on any mobile ad campaign, on any mobile ad network, and is offered free of charge by Thinknear.
Recent research from Thinknear reveals that approximately 67% of mobile ad inventory includes latitude and longitude data, but on average only 34% of that location data is accurate to within 100 meters of the mobile user's true location. The remaining ad inventory includes data that often misrepresents the mobile user's location -- putting the user in the wrong city or even state -- resulting in significant waste and poor mobile targeting efficiency for advertisers.
Thinknear's Location Score technology was developed as a way to "score" the accuracy of the location data used to target mobile ad campaigns on Thinknear's network, ensuring better performance and relevance for mobile campaigns. Location Score Tags are an open-source extension of this technology that allows marketers to score and understand the quality of the targeting data used in mobile campaigns, even if the campaigns are run on ad networks other than Thinknear.
"Marketers know there is an issue with location data quality in mobile which hurts the overall industry. Location Score Tags make our technology easily accessible and helps improve the transparency of data quality," said Eli Portnoy, president of Thinknear. "By providing a measurement tool and increasing transparency, we hope to speed the pace of change with regard to data quality, which will help the industry as a whole."
Marketers using Location Score Tags will place a small piece of tracking code (similar to a pixel tag) on the campaign creative and the campaign landing page. The location targeting data will be scored by Thinknear and the marketer will receive a report detailing the quality and accuracy of the targeting data. The analysis will allow marketers to understand the targeting accuracy of their location-based mobile campaigns. For more information about Location Score Tags, please visit: http://locationscoretags.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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