ThinkNear
AcquiredTechstars '11Culver City, US · Founded 2011 · 6 employees on LinkedIn · 5 known investors
Find your way into ThinkNear
ThinkNear was a Los Angeles mobile location-based advertising network acquired by Telenav for $22.5 million in 2012.
Also known as Think Near · ThinkNear
Investors · 5
Company profile
researched Aug 2026ThinkNear was a mobile advertising technology company based in Los Angeles, co-founded by Chief Executive Eli Portnoy and Chief Technology Officer John Hinnegan, both former Amazon.com employees. The company began in the TechStars New York accelerator in January 2011 with a yield-management product intended to let brick-and-mortar businesses buy targeted mobile ads to draw foot traffic during slow periods. After finding it difficult to purchase highly targeted mobile inventory in bulk, the company pivoted to operating a location-based mobile ad network.
The resulting product used what the company called "situational targeting," serving ads based on a user's location and context with the ability to target within 100 meters of a given place, and timing ads to specific moments in the day. Clicking an ad could deliver turn-by-turn directions to the nearest store location. Reported advertisers included Blackberry and Quiznos. At the time of its acquisition the company had 12 employees.
Founding story
The company was founded by Eli Portnoy and John Hinnegan, both veterans of Amazon.com. Portnoy left Amazon on January 7, 2011, and two days later the pair started the TechStars New York accelerator program and began building ThinkNear around the idea of helping brick-and-mortar businesses attract customers during slow periods through targeted mobile advertising.
Business model
ThinkNear operated a location-based mobile advertising network, working with advertisers to place mobile ads targeted by location and context and to drive consumers to nearby physical store locations. Its earlier model was a yield-management tool through which businesses bought targeted mobile ads to generate foot traffic during off-peak hours.
Latest developments
Telenav announced in October 2012 that it had acquired ThinkNear for $22.5 million, consisting of $18.5 million in cash plus restricted stock and options, with the deal having closed the prior week. ThinkNear's staff joined Telenav's mobile local advertising group to form the Scout Advertising platform.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
ThinkNear was described as a hyperlocal mobile advertising startup and a 2011 graduate of TechStars New York. Its acquisition was reported as the first acquisition out of TechStars New York, the largest exit in TechStars' six-year history to that point, and the first exit for IA Ventures.
Technology
ThinkNear's "situational targeting" technology selected and timed mobile ads according to a user's location and context, targeting consumers within 100 meters of a specific location. GPS technology was used to route users to nearby stores; following the Telenav acquisition, ads could tap Telenav's Drive-To Advertising platform for browser-based turn-by-turn directions, allowing advertisers to measure whether a consumer visited a location after seeing an ad.
Go-to-market
Advertisers and brick-and-mortar businesses seeking to drive in-store foot traffic; named advertisers included Blackberry and Quiznos.
Geography
Headquartered in Los Angeles, California, with roots in the TechStars New York accelerator; following the acquisition its 12 employees remained in Los Angeles as part of Sunnyvale-based Telenav's mobile local advertising group.
History
Eli Portnoy resigned from Amazon on January 7, 2011, and two days later he and co-founder John Hinnegan entered the TechStars New York accelerator, graduating with the 2011 class. The company raised a $1.6 million round backed by IA Ventures and Google Ventures, later also listing Qualcomm Ventures among its backers. After an initial yield-management product proved difficult to scale, ThinkNear shifted to a hyperlocal, location-based mobile ad network. In October 2012 Telenav acquired the company for $22.5 million, folding it into a newly launched mobile advertising platform called Scout Advertising, with Portnoy serving as Scout's Head of Network and the team remaining in Los Angeles.
Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
3 people who came through ThinkNear went on to found or lead other companies.
Timeline · 3
launches, deals, and filingsTelenav, a Sunnyvale-based mobile GPS provider, acquired ThinkNear for $22.5 million, comprising $18.5 million in cash plus restricted stock and options; the deal closed the week prior to the October 16, 2012 reports. ThinkNear's 12 employees joined Telenav's mobile local advertising group to form a new platform, Scout Advertising, with co-founder Eli Portnoy as Head of Network.
$22.5M source ↗
Following the acquisition, ThinkNear's location targeting was combined with Telenav's Drive-To Advertising platform under a newly launched mobile ad platform called Scout Advertising, enabling browser-based GPS turn-by-turn directions from ads.
Eli Portnoy and John Hinnegan began the TechStars NYC accelerator program on January 9, 2011, two days after Portnoy resigned from Amazon; ThinkNear was a 2011 graduate of the program.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 3
primary sources listed
- Cash Out! TechStars NYC Alum ThinkNear Acquired for $22.5 M. | Observerobserver.com · web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does ThinkNear do?
- ThinkNear was a Los Angeles mobile location-based advertising network acquired by Telenav for $22.5 million in 2012.
- Who are ThinkNear's investors?
- ThinkNear's investors include Ff Venture Capital, Qualcomm Ventures, Techstars, IA Ventures, Metamorphic Ventures.
- Where is ThinkNear headquartered?
- ThinkNear is headquartered in Culver City, US.