Bloomberg Media Man International

Bloomberg

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Welcome to Bloomberg.

In 1981 Bloomberg started out with one core belief: that bringing transparency to capital markets through access to information could increase capital flows, produce economic growth and jobs, and significantly reduce the cost of doing business. Today’s Bloomberg builds on that foundation - everything we do connects decision makers in business, finance and government to a broad and dynamic network of information, news, people and ideas that enables faster, more effective decisions. Come see how we do it. (Credit: Bloomberg)

Bloomberg L.P. is a privately held financial software, media, and data company. Bloomberg makes up one third of the $23.7 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P. was founded by Michael Bloomberg (current Mayor of New York City) with the help of Thomas Secunda, Duncan MacMillan, and Charles Zegar in 1981 and a 30% ownership investment by Merrill Lynch. The company provides financial software tools such as analytics and equity trading platform, data services and news to financial companies and organizations around the world through the Bloomberg Terminal (via its Bloomberg Professional Service), its core money-generating product. Many customers use only a small fraction of the machines’ 30,146 functions. Bloomberg L.P. has grown to include a global news service, including television, radio, the Internet and printed publications.
Its current headquarters are located at the Bloomberg Tower, 731 Lexington Avenue in Midtown Manhattan, New York City. The building is also known as One Beacon Court for the lighted rectangular beacon that caps the tower and the paved courtyard at the ground level.

It was formed as a Delaware Limited Partnership in 1981 and has been in business since 1983. Michael Bloomberg owns 85% of the group. Bloomberg's core business is leasing terminals to subscribers. It also runs Bloomberg Television, a financial TV station, and a business radio station WBBR in New York City at a loss. Bloomberg's revenue for last year (2009) was estimated at $6.25 billion. Based on that estimate, the new projections would push revenue to nearly $6.9 billion this year (2010). There are currently over 300,000 Bloomberg Terminal subscribers worldwide.Its competitors include SNL Financial, Thomson Reuters, Capital IQ, Dow Jones Newswires, FactSet Research Systems and smaller companies such as New York Financial Press. In late 1996 Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in his company for $200 million valuing the company at $2.0 Billion. In July 2008, Merrill Lynch agreed to sell its 20% stake in the firm back to Bloomberg, for a reported $4.43 billion, valuing the firm at approximately $22.5 billion. (Credit: Wikipedia)