October 31, 2007

TeleNav Mobile Phone Navigation grows 16,666%

Just in case you weren't sure if navigation on mobile phones wasn't growing at a fast pace, check this out; TeleNav has grown 16,666% in teh last 4 years. TeleNav has been named the first place winner in the 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.

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Posted by Scott Martin at October 31, 2007 8:15 PM

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