TeleNav Ranked Number One in Deloitte`s Technology Fast 50 Program for Silicon Valley Internet, Media and Entertainment and Communication Companies
Released on: October 31, 2007, 12:26 pm
Press Release Author: TeleNav, Inc.
Press Release Summary: TeleNav is ranked number one in Deloitte\'s Technology Fast 50 Program for Silicon Valley Internet, media & entertainment and communication companies and attributes fast growing navigation market for its 16,666 percent revenue growth.
Press Release Body: 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 2002-2006 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 unparalleled 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 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, Inc., a privately-held company headquartered in Sunnyvale, California, was the first to launch a cell phone GPS system in the United States. Deployed by 13 carriers in 20 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), asset GPS tracking (AVL) and local search. The company\'s flagship product, TeleNav GPS Navigator(tm), is comparable to in-car systems found in luxury vehicles, offering a superior experience with functionality, such as automatically-updated maps and business locations, full color 3D moving maps, traffic alerts and one-click rerouting, location-sharing, business reviews, speech recognition, Wi-Fi hotspot finder, lowest-price fuel finder and more. TeleNav\'s enterprise application, TeleNav Track, incorporates GPS-enabled tracking, time sheets, wireless forms and navigation. TeleNav Track is currently the most popular service of its kind, with over 8,000 customer organizations.
TeleNav is available on more than 200 wireless devices and runs on all mobile platforms currently available. TeleNav\'s partners include Sprint Nextel, AT&T, T-Mobile USA, Alltel, Boost Mobile, Qwest, SouthernLINC Wireless, Rogers, Bell Mobility, T-Mobile Austria, China Mobile, Vivo Brazil, Research In Motion (RIM), Motorola, Samsung, Sanyo, LG, Palm, HTC, Hewlett Packard, Nokia, NAVTEQ, Tele Atlas, deCarta, INRIX, Qualcomm and SiRF Technology Holdings.
For more information on TeleNav, please visit www.telenav.com. To find out more about career opportunities at TeleNav or to send your resume, please contact email@example.com.
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other\'s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names \"Deloitte\", \"Deloitte & Touche\", \"Deloitte Touche Tohmatsu\" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Web Site: http://www.telenav.com
Contact Details: Amy White / Cari Goodrich LEWIS PR for TeleNav Amy: 619-677-2700 Cari: 408-573-3663 firstname.lastname@example.org
Mary Beth Lowell TeleNav Inc. 425-531-0122 email@example.com