ThinkNear Acquired by Telenav for $22.5 million

written by Clare Ryan on October 18, 2012 in Acquisitions and Under The Radar with no comments
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Congratulations to Under the Radar Alumni ThinkNear on being acquired for $22.5 Million by Telenav.  This is also a win for TechStars since this is now their biggest exit from any alum.

See ThinkNear’s 2011 Under the Radar Presentation HERE.

“Smart marketing engine for local businesses.”
Launched 2011, New York, NY and Los Angeles CA | Twitter: @thinknear

Company Description | ThinkNear is a smart marketing engine for local businesses. Just as airlines and large corporations adjust their prices based on demand, our system automatically makes marketing and discount decisions for local businesses. ThinkNear’s engine predicts how busy a merchant is in real-time, creates the optimal discount to sell excess capacity, and makes those discounts available on nearby smartphones.

Eli Portnoy is the founder and CEO of ThinkNear, a mobile marketing and yield management solution for local merchants. He was most recently a Senior PM at Amazon where he helped develop and grow the Digital Video service. Eli was also the founder and CEO of HireWorkers and was named one of the Top Young Entrepreneurs by BusinessWeek, the 21st Coolest Young Entrepreneur by Inc. magazine, and a Top Entrepreneur Under 30 by NY Daily News. Eli earned a bachelor’s degree in international relations and political science from the University of Pennsylvania, and an MBA from Harvard Business School.