Telenav Ranks in Deloitte's Technology Fast 500(TM) for the Fourth Year in a Row
Recognized as One of the Fastest-Growing Companies in North America
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(TM). 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
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(TM)
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.
Follow us on Twitter, on Facebook and on Google+.
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.
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