SOURCE: Thinknear by Telenav

Thinknear by Telenav

July 15, 2014 07:46 ET

Thinknear Launches Location Score Tags to Enable Industry Measurement of Location Data Accuracy

Location Score Tags Give Marketers the Ability to Measure Location Data Quality on Any Mobile Ad Campaign, From Any Mobile Ad Network

SUNNYVALE, CA--(Marketwired - Jul 15, 2014) - Thinknear by Telenav (NASDAQ: TNAV) today announced the release of Location Score™ Tags, an extension of its Location Score technology. Location Score Tags are a tool for mobile advertisers that can be used to assess the quality and accuracy of the location data used to target mobile advertisements. The tool, which was first announced on Street Fight, can be used on any mobile ad campaign, on any mobile ad network, and is offered free of charge by Thinknear.

Recent research from Thinknear reveals that approximately 67% of mobile ad inventory includes latitude and longitude data, but on average only 34% of that location data is accurate to within 100 meters of the mobile user's true location. The remaining ad inventory includes data that often misrepresents the mobile user's location -- putting the user in the wrong city or even state -- resulting in significant waste and poor mobile targeting efficiency for advertisers. 

Thinknear's Location Score technology was developed as a way to "score" the accuracy of the location data used to target mobile ad campaigns on Thinknear's network, ensuring better performance and relevance for mobile campaigns. Location Score Tags are an open-source extension of this technology that allows marketers to score and understand the quality of the targeting data used in mobile campaigns, even if the campaigns are run on ad networks other than Thinknear. 

"Marketers know there is an issue with location data quality in mobile which hurts the overall industry. Location Score Tags make our technology easily accessible and helps improve the transparency of data quality," said Eli Portnoy, president of Thinknear. "By providing a measurement tool and increasing transparency, we hope to speed the pace of change with regard to data quality, which will help the industry as a whole."

Marketers using Location Score Tags will place a small piece of tracking code (similar to a pixel tag) on the campaign creative and the campaign landing page. The location targeting data will be scored by Thinknear and the marketer will receive a report detailing the quality and accuracy of the targeting data. The analysis will allow marketers to understand the targeting accuracy of their location-based mobile campaigns. For more information about Location Score Tags, please visit: http://locationscoretags.com.

About Thinknear:
Thinknear is a location technology company and full-service mobile advertising network focused on delivering amazing advertising campaigns for agencies, brands and consumers. Thinknear's platform delivers the accuracy, scale and technology required to effectively leverage mobile location data to power better consumer experiences. In mobile, precision matters, and as a division of Telenav, Thinknear leverages exclusive access to over 14 years of proprietary location data. To learn more, please visit www.thinknear.com and follow @thinknear on Twitter.

About Telenav, Inc.
Telenav's mission is to help reduce stress, improve productivity, and make life more fun for people on the go.

Copyright 2014 Telenav, Inc. All Rights Reserved.

"Telenav," "Thinknear," "Location Score," and the Thinknear logo, 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.

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Contact Information

  • Media Contact:
    Diane Anderson
    WIT Strategy for Thinknear
    415.254.9086
    danderson@witstrategy.com

    Investor Relations:
    Cynthia Hiponia and Alice Kousoum
    The Blueshirt Group for Telenav, Inc.
    408.990.1265
    IR@telenav.com