Google maps (+ Yahoo, + Mapquest), car navigation systems and every UPS truck in the world is powered by NAVTEQ. You might not see their brand, but their location data is the underpinning much of the world's geotechnology. With GPS and related applications taking hold, they've got a lot of road ahead of them. If you ever wondered how they get their data...in 2002, 150 staffers drove 1 million miles in the United States to gather field reports.
Navigation Technologies was launched in Silicon Valley in 1985 under the name Karlin & Collins with a countertop kiosk for rental car agencies - it enabled customers to print out driving directions. In 1987 T. Russell Shields, a Chicago entrepreneur and early investor, took over as CEO. The company was renamed Navigation Technologies and he shifted the focus from the kiosks to developing turn-by-turn digital maps for vehicle navigation systems. Current Chairman is Chris Galvin, former CEO of Motorola.
Dimensions: 1900 people x 21 years x $495MM
Funding: Philips Electronics, Public company
Customers: Anybody who helps people figure out where they are
Location: Chicago [River North] + www.navteq.com
