In a statement, Telenav VP Products and Monetization Dariusz Paczuski said, "This is a platform built from the ground up to leverage the mobile experience. We will help advertisers reach the right people while deploying the right mobile measurement tools. We expect this to change the game for advertisers. We are 100 percent focused on providing them with a clear and remarkable ROI on their mobile advertising spend. The proof will be the increase in customers driving to their front door."
Here's more from ThinkNear's Portnoy (who also posted some personal thoughts on his blog):
ADEXCHANGER: How did the deal come about?
ELI PORTNOY: We were working together on putting together a deal. The further we got along on the deal, the more it became clear we should just join them.
Will you exclusively work on Telenav products?
We'll continue to work with all our existing partners. Part of the beauty of the combination is we can continue to leverage our expertise across the mobile system to get reach and distribution so that advertisers are not only buying impressions on Telenav properties, but also on the ThinkNear network.
Catch us up on ThinkNear network. What's happened in the five months since you launched?
We launched in April. We've since seen dozens of the world's most recognized brands use the platform. We've been executing some massive campaigns that have performed really well.
The last piece for us – the piece we want to own to take our solution to the next level -- is the last mile. How do we go from showing that perfect ad to get someone to act on it?
What do you think this means for the hyperlocal space?
I don't know what it means for others. For us it creates an opportunity to make an even bigger dent in what is becoming a massive market.