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Navteq history
Navteq company history timeline
In the early months of 1987 DriverGuide was set up in a number of Bay Area locations on a test basis.
European giant Philips N.V. began investing in Navigation Technologies in 1989 as part of its own effort to develop an automobile navigation system.
Zip2, former American technology company (1995–99) that was the first enterprise founded by Elon Musk.
Shields remained with the company, however, ultimately taking over as CEO and in 1996 moving the corporate headquarters to Chicago.
The company expanded its listing by convincing businesses to pay for inclusion, and, after about a year, in early 1996, Mohr Davidow Ventures agreed to invest some $3 million in Zip2 in exchange for majority ownership.
Two years later he was named president of the company's theme park and resort business, Walt Disney Attractions, eventually adding the title of chairman in 1998.
In late 1998 Philips sold about 20 percent of its 60 percent stake in Navigation Technologies to a consortium of Dutch financial institutions.
When Sorkin arranged in 1998 for Zip2 to merge with CitySearch, which provided a similar service, Musk organized a revolt and prevailed upon the board of directors to remove Sorkin as CEO. Sorkin was replaced by Derek Proudian.
Several months later, in October 1999, Philips again took steps to prepare Navigational Technologies to become a public company.
Green took over at Navigation Technologies in May 2000, charged with readying the company for an initial public offering of stock.
In 2003 only 3 percent of new cars sold in the United States featured navigation systems, and in Europe, where the technology saw greater penetration, the number was probably 10 percent or less.
2004: Name is changed to NAVTEQ Corporation; company is taken public.
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Navteq competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Sunrise Systems | 1990 | $12.0M | 751 | 14 |
| BlackBerry | 1984 | $853.0M | 4,044 | 2 |
| Lexis Nexis | - | - | - | 285 |
| First DataBank | 1977 | $27.5M | 400 | 2 |
| Software Engineering Services | 1991 | $15.2M | 100 | - |
| Amadeus North America, Inc. | 1995 | $67.0M | 750 | 107 |
| Esri | 1969 | $1.1B | 3,801 | 267 |
| RCR Technology | 1997 | $6.7M | 65 | - |
| Pragmatics | 1985 | $1.3M | 7 | 1 |
| Systems & Software | 1973 | $10.0M | 28 | - |
Navteq history FAQs
Zippia gives an in-depth look into the details of Navteq, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Navteq. The employee data is based on information from people who have self-reported their past or current employments at Navteq. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Navteq. The data presented on this page does not represent the view of Navteq and its employees or that of Zippia.
Navteq may also be known as or be related to NAVTEQ North America LLC, Navteq and Navteq North America.