Telenav Ranks in Deloitte's Technology Fast 500(TM) for the Fourth Year in a Row
SUNNYVALE, CA -- (Marketwired) -- 11/19/13 --
Telenav, Inc. (NASDAQ: TNAV), the leader in personalized navigation, today announced that, for the fourth year in a row, it has secured a spot on Deloitte's Technology Fast 500™. This list is Deloitte's ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Telenav revenue grew 355 percent from FY 2008 to FY 2012.
Telenav's president, CEO, and co-founder, Dr. HP Jin, credits the company's strong revenue growth to strategic investments in growth areas like automotive and mobile advertising. He said, "Our team has worked hard to drive innovation in location-based services and it is very rewarding to have our accomplishments recognized by Deloitte year over year."
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest-growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Telenav, Inc.
Telenav's mission is to help make people's lives less stressful, more productive, and more fun when they are on the go. Our personalized navigation services help people make faster and smarter daily decisions about where to go, when to leave, how to get there, and what to do when they arrive.
We aim to be everywhere people need us. Our partners are wireless carriers, automobile manufacturers, app developers, advertisers and advertising agencies. Our carrier and automotive partners include AT&T, Bell Mobility, Boost Mobile, Ford, NII Holdings, QNX Software Systems, Rogers, Sprint, Telcel, T-Mobile U.S., U.S. Cellular, and Vivo Brazil. You can also find us in mobile app stores and on the web at www.telenav.com and www.scout.me.
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Copyright 2013 Telenav, Inc. All Rights Reserved.
"Telenav," "Scout," the Telenav and Scout logos, "telenav.com" and "scout.me" are registered and unregistered trademarks and/or service marks of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.
Mary Beth Lowell
The Blueshirt Group for Telenav, Inc.
Source: Telenav, Inc.
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