History and Founding of Bloomberg L.P.
- Salomon Brothers acquired in 1981
- Michael Bloomberg starts Innovative Market Systems (IMS) with $10 million partnership settlement
- Bloomberg Terminal released in December 1982
- Merrill Lynch becomes first customer and purchases 20 terminals
- Company renamed Bloomberg L.P. in 1986
- Bloomberg L.P. was started on October 1, 1981, the day after Michael Bloomberg left Salomon Brothers.
- The company is approaching its fifteenth year anniversary.
- Merrill Lynch sold its 20% stake in Bloomberg for $4.5 billion in 2008.
- A leaked memo revealed that Bloomberg reached $10 billion in annual revenue in a previous year.
- Mark Carney was appointed to lead the new board of Bloomberg in 2023.
Bloomberg Terminal and Services
- Sales from Bloomberg Professional Services accounted for over 85% of Bloomberg L.P.'s annual revenue in 2011.
- The Bloomberg Terminal, starting at $24,000 per user per year, provides access to real-time financial data, financial news, price quotes, and messaging services.
- The Terminal covers both public and private markets globally.
- Subscribers can monitor and analyze financial data in real-time.
- The Bloomberg Professional Services is a proprietary computer system.
- The Bloomberg Terminal is a widely used financial data and analytics platform.
- It provides real-time financial information, news, and analytics to professionals in the finance industry.
- The Bloomberg Terminal is known for its comprehensive coverage of financial markets and instruments.
- Bloomberg L.P. acquired RTS Realtime Systems and RegTek.Solutions to expand its reporting and data services.
- Bloomberg L.P. also acquired Broadway, New Energy Finance, and BNA to diversify its services.
Bloomberg Media and Publications
- Bloomberg L.P. purchases WNEW radio station in 1992 for $13.5 million
- Station converted to all-news format and renamed WBBR
- Bloomberg Radio provides financial news and analysis
- WBBR call letters changed to Bloomberg Radio
- Bloomberg Radio becomes part of Bloomberg's media offerings
- Bloomberg L.P. acquires BusinessWeek magazine in 2009
- Magazine renamed Bloomberg Businessweek
- Acquisition aimed at attracting general business audience
- Joel Weber named editor of the magazine in 2018
- Bloomberg Businessweek becomes part of Bloomberg's media portfolio
- Bloomberg acquired BusinessWeek magazine in 2009 and renamed it Bloomberg Businessweek.
- Joel Weber was named editor of Bloomberg Businessweek in 2018.
- Bloomberg Media acquired CityLab from The Atlantic in 2019.
- Bloomberg Media also owns Bloomberg Markets magazine, which focuses on business and finance.
- Bloomberg Pursuits, a print magazine, ended publication in 2016.
Bloomberg's Role in Renewable Energy
- Bloomberg L.P. purchases New Energy Finance in 2009
- New Energy Finance focuses on energy investment and carbon markets research
- Company renamed Bloomberg New Energy Finance (BNEF)
- BNEF expands research areas to cover renewable energy, advanced transport, etc.
- BNEF provides research, forecasts, and analysis on energy and related industries
- Bloomberg New Energy Finance (BNEF) provides research and analysis on renewable energy markets.
- BNEF's reports show that the levelized cost of renewables continues to fall.
- BloombergNEF, a division of Bloomberg Finance L.P., focuses on sustainable investing and clean energy.
- Bloomberg bets on carbon markets and supports the transition to renewable energy.
- BNEF launched a tool to assess the climate benefits of wind and solar assets.
Bloomberg's Acquisitions and Partnerships
- Bloomberg L.P. acquires Bureau of National Affairs in 2011
- BNA specializes in online and print news for business and government professionals
- BNA publications cover various topics such as corporate law, employment, health care, etc.
- Acquisition strengthens Bloomberg's existing services
- BNA becomes part of Bloomberg's information offerings
- Bloomberg L.P. acquired Barclays Risk Analytics and Index Solutions business in 2015.
- Bloomberg sold its sports analysis division to STATS in 2014.
- Bloomberg acquired PolarLake and launched EDM services in 2012.
- Bloomberg acquired Broadway, a financial software provider, in an agreement.
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Bank of America through their brokerage subsidiary Merrill Lynch.
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| Type | Private |
|---|---|
| Industry | Technology, Financial technology, mass media |
| Founded | October 1, 1981 |
| Founders | |
| Headquarters | Bloomberg Tower, , |
Number of locations | 176 offices (2021) |
Key people |
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| Revenue |  US$10 billion (2019) |
| Owner | Michael Bloomberg (88%) Others (12%) |
Number of employees | 20,000 |
| Website | bloomberg.com |
| Footnotes / references | |
Bloomberg L.P. provides financial software tools and enterprise applications such as analytics and an equity trading platform, data services, and news to financial companies and organizations through the Bloomberg Terminal (via its Bloomberg Professional Service), its core revenue-generating product. Bloomberg L.P. also includes a news agency (Bloomberg News), a global television network (Bloomberg Television), websites, radio stations (Bloomberg Radio), subscription-only newsletters, and two magazines: Bloomberg Businessweek and Bloomberg Markets.
The company has 176 locations and nearly 20,000 employees.
