IPO Watch: TeleNav

TeleNav filed with the SEC Friday to go public. The Silicon Valley-based company hopes to raise up to $75 million in its IPO. The company’s largest venture capital backer is Menlo Ventures, which must have high hopes for the transaction. The IPO is being managed by JP Morgan and Deutsche Bank Securities. No date has been announced.

TeleNav has more than 11 million paying users (as of the end of September) and provides its services through Sprint Nextel and AT&T.

[Via Reuters]

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