TeleNav 2015 Annual Report Download - page 16

Table of Contents
Rohan Chandran has served as our vice president and general manager, mobile business unit since October 2014. From January 2014 to
October 2014, Mr. Chandran served as our head of consumer products. From April 2013 to January 2014, Mr. Chandran served as senior vice
president, product management of Technorati, Inc., a provider of online media services. From June 2010 to February 2013, Mr. Chandran served
in various positions, the most recent of which was head of consumer products, with YP, Inc., formerly AT&T Interactive, a consumer local
search and digital marketing company. From February 2008 to June 2010, Mr. Chandran served as chief executive officer and founder of
Collient, Inc., a long-
form video personalization company. From August 2005 to February 2008, Mr. Chandran served as senior director, product
management, with Experian Interactive, a provider of online financial services marketing solutions. Mr. Chandran holds a B.A. in Economics
and a B.S. and M.S. in Computer Science from Stanford University.
Salman Dhanani is a cofounder of our company and has served as co-president of our automotive business unit since January 2014.
Mr. Dhanani served as our vice president, growth strategy and partnerships from July 2012 to January 2014, as our vice president, products from
August 2010 to July 2012 and as our vice president, products and marketing from August 2009 to August 2010. Mr. Dhanani served as our
executive director of marketing from March 2009 to July 2009 and as our senior director of marketing from November 1999 to February 2009.
From January 1999 to November 1999, Mr. Dhanani served as a consultant at the McKenna Group, a strategy consulting firm. From July 1996
to December 1998, Mr. Dhanani served as an application engineer at Schlumberger Ltd., a technology consulting services company.
Mr. Dhanani holds a B.S. in Electrical Engineering from the University of Washington.
Loren Hillberg has served as our general counsel and secretary since April 2009 and president and general manager, Thinknear since
October 2014. From January 2013 to October 2014, Mr. Hillberg served as general manager, mobile business unit. From September 2007 to
September 2008, Mr. Hillberg served as vice president and general counsel at Force10 Networks, a privately held communications and networks
company. From April 2005 to May 2007, Mr. Hillberg held various management positions, including executive vice president and general
counsel at Macrovision Corporation (now Rovi Corporation), a publicly traded digital entertainment company. From May 1998 to March 2005,
Mr. Hillberg served as senior vice president and general counsel at Macromedia, Inc., a provider of web publishing products and solutions that
was acquired by Adobe Systems Incorporated. Mr. Hillberg holds a B.A. in Economics from Stanford University and a J.D. from the University
of California, Hastings College of Law.
Hassan Wahla has served as co-president of our automotive business unit since January 2014. Mr. Wahla served as our vice president,
business development and carrier sales from August 2009 to January 2014 and served as our executive director of business development from
May 2005 to August 2009. From April 2003 to May 2005, Mr. Wahla served as a senior product manager at Nextel Communications, a wireless
communications company that merged with Sprint. From February 2002 to April 2003, Mr. Wahla served as vice president of business
development of Wireless Multimedia Solutions, a privately held wireless software platform company. From September 1999 to February 2002,
Mr. Wahla served as director of business development at MicroStrategy, Inc., a business intelligence software company. Prior to that time,
Mr. Wahla served as a senior consultant at Maritime Power, a maritime equipment company. Mr. Wahla holds a B.S. in Industrial Engineering
from Virginia Tech, an M.S. in Management from Stevens Institute of Technology and a Masters of International Affairs from Columbia
University.
We operate in a rapidly changing environment that involves numerous uncertainties and risks. The following risks and uncertainties may
have a material and adverse effect on our business, financial condition or results of operations. You should consider these risks and
uncertainties carefully, together with all of the other information included or incorporated by reference in this Form 10-K before you decide
whether to purchase any of our securities. If any of the risks or uncertainties we face were to occur, the trading price of our securities could
decline, and you may lose all or part of your investment.
Risk related to our business
We incurred losses in fiscal 2014 and 2015, and expect that we will continue to incur losses in fiscal 2016 and we do not know when, or if, we
will return to profitability, as we make further expenditures to enhance and expand our operations in order to support growth and
diversification of our business.
As a percentage of revenue, our net income (loss) was (14)% and (20)%
in fiscal 2015 and fiscal 2014, respectively. Our revenue from paid
wireless carrier mobile navigation has substantially declined and we expect it to continue to do so. Our gross margin declined to 51% in fiscal
2015 from 60% in fiscal 2014 due primarily to the increased proportion of product revenue contributed from our on-
board automotive navigation
solutions, which generally have higher associated content costs and resulting lower gross margins than our mobile navigation services provided
through our wireless carrier customers, and the
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ITEM 1A. RISK FACTORS