TeleNav Ranked Third in Deloitte's Wireless Fast 50
October 26, 2007 (PRLEAP.COM) Technology NewsSunnyvale, Calif. - October 26, 2007 - TeleNav, Inc., the first company to launch a GPS service for cell phones in the U.S., has been ranked third in Deloitte's Wireless Fast 50 Program, a ranking of the 50 fastest growing wireless companies by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. TeleNav has also been named a finalist 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. Rankings are based on the percentage fiscal year revenue growth over five years from 2002-2006.
TeleNav's President, CEO and Co-Founder HP Jin credits the company's focus on innovation and the growth of GPS-enabled cell phones with the company's 16,666 percent revenue growth from 2002-2006. "We pride ourselves on being at the forefront of the location-based services industry, and have an exciting track record in market innovation," said Jin. "We were the first company to bring a GPS service to mobile phones in the U.S., and are currently the only company to offer a mobile application that includes 3D GPS navigation, social networking, one-click traffic rerouting, cheapest gas prices and local search, all in one. We are also providing GPS services to thousands of companies through our enterprise LBS application which includes mobile tracking, dispatching and navigation."
"The wireless industry is on the cusp of great changes as new technologies such as WiMax and 3G upend the market, and yet we are only scratching the surface of what is possible," said Phil Asmundson, vice chairman, US Technology, Media & Entertainment and Telecommunications, Deloitte & Touche USA LLP. "Our first-ever Deloitte Wireless Fast 50 awards underscore the potential for both innovation and business performance in this evolving sector. These companies have achieved sustained growth while navigating constant change, and are beacons of a promising future for the wireless industry."
To qualify for the Wireless Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006. They must own proprietary wireless technology or proprietary wireless intellectual property that contributes to a significant portion of their operating revenues, or devote a significant proportion of revenues to the research and development of wireless technology. Using other companies' wireless technology or intellectual property in a unique way does not qualify.
Companies from the Wireless Fast 50 program 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 Wireless Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
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.
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