Dash selects NAVTEQ Traffic, no big loss for INRIX

Dash selects NAVTEQ Traffic, no big loss for INRIX
Digital map maker NAVTEQ sent out a press release today explaining it has been chosen as a provider of traffic information for the Dash Express. This is unfortunately not a big win for NAVTEQ since Dash Navigation stopped to distribute this product a few months ago. The previous provider was INRIX which Dash signed up as a partner in 2006.

After raising over $25 million in a series B funding from prestigious – but unfortunately ill-advised – venture capital firms in 2007, Dash delayed the launch of its connected PND by 18 months and finally was not able to sign any distribution deal with a major U.S. retailer (Amazon and a few other e-tailer carried the product).

On November 2008 the start-up decided a major restructuring plan, slashing 65% of its workforce and stopping the sale of its PND to supposedly re-focus on other platforms such as wireless and automotive. However, most of the talented engineers have left long ago, hired by TeleNav, DeCarta, Networks in Motion and others. What remains of the company is said to be for sale and in the current situation investors are going to make a major loss in comparison to what they invested.

Tuesday, January 13th 2009

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases