Bloomberg L.P. facts for kids
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Bloomberg Tower on Lexington Avenue in Midtown Manhattan
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| Private | |
| Industry | Technology, Financial technology, mass media |
| Founded | October 1, 1981 |
| Founders |
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| Headquarters | Bloomberg Tower 731 Lexington Avenue New York, NY 10022 U.S. |
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Number of locations
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176 offices (2021) |
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Key people
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| Revenue |  US$10 billion (2019) |
| Owner | Michael Bloomberg (88%) Others (12%) |
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Number of employees
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20,000 |
Bloomberg L.P. is a company that provides financial tools, data, and news. It is based in New York City. Michael Bloomberg started the company in 1981 with a few partners. These partners included Thomas Secunda, Duncan MacMillan, and Charles Zegar. A bank called Bank of America also invested in the company early on.
Bloomberg L.P. helps financial companies with special software and information. Their main product is the Bloomberg Terminal. This terminal gives users real-time financial data and news. Bloomberg also has a news agency called Bloomberg News. They run a global TV channel, Bloomberg Television, and radio stations, Bloomberg Radio. They also publish magazines like Bloomberg Businessweek.
The company has offices in 176 places around the world. Nearly 20,000 people work for Bloomberg.
Contents
- How Bloomberg Started
- Who Leads Bloomberg?
- Companies Bloomberg Has Bought
- What Bloomberg Offers
- Bloomberg Professional Services (The Terminal)
- Bloomberg News
- Bloomberg Radio
- Bloomberg Television
- Bloomberg Markets Magazine
- Bloomberg Pursuits
- Bloomberg Government
- Bloomberg Law
- Bloomberg Opinion
- Bloomberg Tradebook
- Bloomberg Beta
- Bloomberg Innovation Index
- Bloomberg Quicktake
- Bloomberg New Economy Forum
- Bloomberg Línea
- Bloomberg Intelligence
- Where Bloomberg Works
- See also
How Bloomberg Started
In 1981, Michael Bloomberg received $10 million from a company he used to work for. He used this money to start his own company, first called Innovative Market Systems (IMS). Michael Bloomberg had a great idea. He wanted to create a computer system to give financial companies up-to-the-minute market information. This system would also help them with financial calculations.
The first version of his system was called the Market Master terminal. It was later renamed the Bloomberg Terminal. In 1982, a company called Merrill Lynch became Bloomberg's first customer. They bought 20 terminals and invested $30 million in the company.
In 1986, the company changed its name to Bloomberg L.P. In 1990, they launched Bloomberg Business News, which is now known as Bloomberg News. This news service provides financial news to people around the world. The company's website, Bloomberg.com, started in 1993. It offered financial news and market information.
Over the years, Bloomberg L.P. bought back shares from Merrill Lynch. This made Michael Bloomberg the main owner of the company. Bloomberg L.P. is still a private company today. This means its shares are not traded on a stock market.
In 2001, Michael Bloomberg became the Mayor of New York. He stepped down as CEO of his company. He returned as CEO in 2014 and then stepped down again in 2023. In August 2023, Vladimir Kliatchko became the new CEO. Mark Carney became the new chairman of the board.
Who Leads Bloomberg?
- Chair: Mark Carney (since August 2023)
- Chief Executive: Vladimir Kliatchko (since August 2023)
Past Leaders
- Michael Bloomberg (Chairman: 1981–2001; CEO: 1981–2001, 2014–2023)
- Peter Grauer (Chairman: 2001–2023)
- Alexius "Lex" Fenwick (CEO: 2001–2008)
- Daniel Doctoroff (CEO: 2008–2014)
Companies Bloomberg Has Bought
Bloomberg L.P. has grown by buying other companies. These acquisitions help them offer more services.
Bloomberg Radio
In 1992, Bloomberg bought a New York radio station called WNEW. They changed it into an all-news station focused on business and finance. It is now known as Bloomberg Radio.
Bloomberg Businessweek
In 2009, Bloomberg L.P. bought BusinessWeek magazine. This weekly business magazine helps Bloomberg reach a wider audience. After the purchase, it was renamed Bloomberg Businessweek.
BloombergNEF
In 2009, Bloomberg bought New Energy Finance. This company provides data and research on clean energy and carbon markets. It was renamed BloombergNEF (BNEF). BNEF helps people understand renewable energy and related industries.
Bureau of National Affairs (BNA)
In 2011, Bloomberg L.P. bought the Bureau of National Affairs (BNA). BNA publishes news and information for professionals in business and government. This helped Bloomberg improve its services for legal and government information.
Bloomberg PolarLake
In 2012, Bloomberg bought PolarLake, a software company. This helped Bloomberg offer new services for managing large amounts of data.
Barclays Indices Business
In 2015, Bloomberg bought Barclays' index business. This part of Barclays created financial indexes, which are tools to measure market performance. It was renamed Bloomberg Index Services Limited.
CityLab
In 2019, Bloomberg Media bought CityLab. CityLab is a news website that covers topics like transportation, environment, and city design. This was Bloomberg's first purchase of a news site in over ten years.
What Bloomberg Offers
Bloomberg provides many different products and services. They help people in finance and business stay informed.
Bloomberg Professional Services (The Terminal)
The Bloomberg Terminal is Bloomberg's most important product. It's a special computer system that costs a lot of money each year. Subscribers use it to see real-time financial data and news. They can also get price quotes and send messages to other users. The Terminal covers financial markets all over the world.
Bloomberg News
Bloomberg News started in 1990. It provides financial news to Bloomberg Terminal users and the public. Bloomberg News has many reporters in different countries. Their news is shared through the Terminal, TV, radio, magazines, and the Bloomberg website.
Bloomberg Radio
Bloomberg Radio is a 24-hour radio network. It provides financial news and market updates.
Bloomberg Television
Bloomberg Television is a 24-hour TV channel. It broadcasts financial news around the clock. It started in 1994 and is now available to many homes worldwide.
Bloomberg Markets Magazine
Bloomberg Markets is a monthly magazine. It gives in-depth information about global financial markets. It's for people who work in finance.
Bloomberg Pursuits
Bloomberg Pursuits was a magazine about luxury goods. It stopped being printed in 2016. Now, it's a digital edition and a show on Bloomberg Television.
Bloomberg Government
Bloomberg Government is an online service. It provides news and information about politics and government rules. It helps people understand what's happening in government.
Bloomberg Law
Bloomberg Law is a service for legal research. It helps lawyers and legal professionals find court documents and legal news.
Bloomberg Opinion
Bloomberg Opinion shares articles and opinions from different writers. These articles are about current news and events. You can read them for free on Bloomberg's website.
Bloomberg Tradebook
Bloomberg Tradebook is an electronic service for trading. It helps people buy and sell stocks, futures, and other financial items.
Bloomberg Beta
Bloomberg Beta is a venture capital firm. It invests money in new companies, especially those related to technology.
Bloomberg Innovation Index
The Bloomberg Innovation Index ranks how innovative countries are each year. It looks at things like research, manufacturing, and education.
Bloomberg Quicktake
Quicktake is Bloomberg's brand for social media. It shares news and videos on platforms like Twitter, Facebook, and YouTube. It also plays on screens in airports.
Bloomberg New Economy Forum
The Bloomberg New Economy Forum is a special event. Business leaders, government officials, and experts meet to discuss the global economy. It's an invitation-only event.
Bloomberg Línea
Bloomberg Línea is a partnership that started in 2021. It provides news for Spanish, Portuguese, and English-speaking audiences in Latin America.
Bloomberg Intelligence
Bloomberg Intelligence (BI) is Bloomberg's research team. They provide data and analysis on global markets. It's available on the Bloomberg Terminal.
Where Bloomberg Works
Bloomberg L.P.'s main office is in the Bloomberg Tower in New York City. This building is also known as 731 Lexington Avenue. The company also has offices in 167 other places around the world. This includes Bloomberg London, which is their main office in Europe.
Working at Bloomberg
Bloomberg offices have a unique style. Even important leaders do not have private offices. Everyone sits at similar white desks with a Bloomberg computer terminal. The offices also have many screens overhead. These screens show news, market data, and weather updates.
See also
In Spanish: Bloomberg L.P. para niños
- Bloomberg Markets
- Bloomberg Terminal
- Financial data vendor
