Bloomberg L.P.

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Bloomberg L.P.
Type Limited Partnership
Founded New York, New York (1981)
Headquarters New York City, New York, United States
Key people Michael Bloomberg, Founder
Peter Grauer, Chairman
Thomas Secunda, CTO
Lex Fenwick, COO
Industry Financial Services
Revenue $4.7 billion USD (2006)
Employees 9,400 (April 2007)
Website www.bloomberg.com


Bloomberg L.P. is a leading financial news and data company, which rivals Reuters and Thomson for market share worldwide, each with about 33 percent. It was founded by Michael Bloomberg (current Mayor of New York City) with the help of Thomas Secunda and other partners (ex coworkers from Salomon Brothers) in 1981 and 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, its core money-generating product. Bloomberg L.P. has grown to include a global news service, including television, radio, the Internet and publications.

Its current headquarters are located at the Bloomberg Tower in Midtown, Manhattan in New York City, in the state of New York in the United States.

It was incorporated as a Delaware Limited Partnership (LP) in 1981 and has been in business since 1983. Michael Bloomberg owns 72% of the group and receives an 84.55% share of the profits. 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. Forbes Magazine estimated, in 2000, Bloomberg's cash flow margins on its $2.3 billion in revenues exceed 35%. Bloomberg reports more than 100,000 users in North America, and another 130,000 in the rest of the world. Its competitors include Reuters, Dow Jones Newswires, and FACTSET.

Contents

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Please improve this section by adding citations to reliable sources. Unverifiable material may be challenged and removed. (November 2007)

In 1981 Mike Bloomberg left Salomon Brothers, where he was a general partner, and set up Innovative Marketing System with his severance pay. In 1982, Merrill Lynch became the new company's first customer, installing 22 Market Master terminals. In 1986, the company was renamed Bloomberg L.P. and by 1987, 5000 terminals had been installed. Within a few years, ancillary products including Bloomberg Tradebook (a trading platform) the Bloomberg Messaging Service and the Bloomberg newswire were launched.

Bloomberg prospered during the boom of the 1980s and 1990's. It expanded internationally, opening offices in Europe, Asia and Australia. In addition to its financial services offerings, Bloomberg launched its news services division in 1990. Bloomberg News (originally known as Bloomberg Business News) has some 2,000 staff in 125 bureaus around the world and is available on the web at www.bloomberg.com. It now provides information to approximately 350 newspapers and magazines worldwide, including The Economist, The New York Times and USA Today.

 This section does not cite any references or sources.
Please improve this section by adding citations to reliable sources. Unverifiable material may be challenged and removed. (November 2007)

All Bloomberg employees sit in front of one of the proprietary Bloomberg terminals, which they use to access market information, send emails and process data or words.

As of March 2001, members of the board of directors of Bloomberg include: Peter Grauer, Arthur Levitt, Jane Bryant Quinn, Frank Savage, and Thomas Secunda.[1]


  1. ^ Hirschkorn, Phil (March 6, 2001). Michael Bloomberg eyes run at New York mayor. Time Warner, Cable News Network (archives.cnn.com). Retrieved on 2007-11-11.

Retrieved from "http://en.wikipedia.org/wiki/Bloomberg_L.P."
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