731 Lexington Ave.
New York, NY 10022
CEO: Michael Bloomberg
Bloomberg is the leading provider of financial
news and data to corporations and institutions. The firm's main
service is the Bloomberg Professional terminal, which provides
stock and bond quotes, charts and news that are critical for
The firm has built a worldwide customer
base of corporations, issuers, financial intermediaries and institutional
investors. Clients include the world's central banks, investment
institutions, commercial banks, government offices and agencies,
corporations and news organizations.
Bloomberg has over 15,000 employees in 192 locations. In November, the company reportedly cut 50 news-related jobs and reduce coverage of arts, culture and sports.
Available 24 hours a day to more than 315,000 professionals in more than 126 countries, the Bloomberg Professional terminal seamlessly integrates data, news, analytics, multimedia reports and e-mail onto a single platform. It is used by market professionals around the world to make informed decisions and to complete transactions in any currency.
The company generates 85% of its revenue from the terminals and it charges a steep fee. According to the NY Times, each terminal costs $17,000-20,000 per year and few discounts are offered even into large companies.
In addition to the professional service, Bloomberg also has global news, television, radio, Internet and magazine operations. Bloomberg has also expanded services for government, law, new energy finance and sports.
Bloomberg News, established in 1990, is a financial news wire service that has grown to include more than 2,300 news and multimedia staff. It publishes over 5,000 stories from 146 bureaus in 72 countries. Bloomberg News content is syndicated to over 440 newspapers and magazines in 65 countries.
Bloomberg Television is a 24-hour business and financial news channel with networks for U.S., Europe and Asia. The network reaches 310 million households globally.
Bloomberg Radio is syndicated through more
than 750 affiliates worldwide and gives listeners up-to-the minute
business, national and international news. Bloomberg's 24-hour
flagship station is 1130 WBBR-AM in New York.
The company was founded in 1981 by Michael Bloomberg, who left investment bank Salomon Brothers with a $10 million severance. Bloomberg was three-term mayor of New York City and one of the world's wealthiest men with an estimated net worth of over $50 billion.
The company is expected to earn over $9 billion in revenues in 2014, up from $5 billion in 2007.
In July 2008, Michael Bloomberg repurchased a 20% stake in the company owned by Merrill Lynch for $4.425 billion. He owns 90% of the company.
Bloomberg acquired BusinessWeek magazine at the end of 2009 from McGraw-Hill for an undisclosed amount. The magazine is now called Bloomberg Businessweek.
In 2011, Bloomberg Government was launched as a subscription service targeting business professionals focusing on government news primarily from Washington, DC.
Global benefits include:
* Medical, Dental and Vision Coverage
* Life and Long-Term Disability Coverage
* Retirement Savings Plans
* Employee Assistance Plans
* Free organic snacks, fresh fruit, coffee, tea and beverages (available 24/7)
* Travel Insurance and Medical Benefits Abroad