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 |
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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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Area served
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Worldwide |
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Key people
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| Revenue |  US$10 billion (2019) |
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Number of employees
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21,000 |
Bloomberg L.P. is an American company that provides financial information, software, and news. It is based in Midtown Manhattan, New York City. Michael Bloomberg co-founded the company in 1981. He started it with Thomas Secunda, Duncan MacMillan, and Charles Zegar. Bank of America also invested in the company early on.
Bloomberg L.P. offers special computer programs and tools for financial companies. These tools help them analyze money markets and trade stocks. The company also provides lots of data and news. Their main product is the Bloomberg Terminal, which is used by financial experts worldwide. Bloomberg L.P. also owns a news agency called Bloomberg News. They have a TV channel (Bloomberg Television), websites, and radio stations (Bloomberg Radio). They also publish magazines like Bloomberg Businessweek and Bloomberg Markets.
As of 2019, Bloomberg L.P. had 176 offices around the world. They also had nearly 20,000 employees.
Contents
- How Bloomberg Started and Grew
- Who Leads Bloomberg
- Companies Bloomberg Has Bought
- What Bloomberg Offers
- Bloomberg Professional Services
- Bloomberg News
- Bloomberg Radio
- Bloomberg Television
- Bloomberg Markets
- 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 and Grew
In 1981, Michael Bloomberg used money he received from a previous job to start a new company. He called it Innovative Market Systems (IMS). Michael Bloomberg had experience designing computer systems for financial companies. He used this knowledge to create his own system. This system provided real-time market data and financial calculations.
The first version of their computer terminal was called the Market Master. It was released in December 1982. Later, it became known as the Bloomberg Terminal. Merrill Lynch, a big financial company, was their first customer. They bought 20 terminals and invested in the company.
In 1986, the company changed its name to Bloomberg L.P. In 1990, Bloomberg launched its news service, which is now called Bloomberg News. They also started their website, Bloomberg.com, in 1993. This website offered financial information and news.
Over the years, Michael Bloomberg bought back shares of his company from Merrill Lynch. This made Bloomberg L.P. mostly owned by Michael Bloomberg himself. The company has always remained a private company. This means its shares are not traded on public stock markets.
Michael Bloomberg served as CEO of the company for many years. He stepped down in 2001 to become the Mayor of New York. He returned as CEO in 2014 and served until 2023. In August 2023, Vladimir Kliatchko became the new CEO. Jean-Paul Zammitt became the President.
Who Leads Bloomberg
Leaders of the Board
- Michael Bloomberg (1981–2001)
- Peter Grauer (2001–2023)
- Mark Carney (2023–present)
Chief Executive Officers
- Michael Bloomberg (1981–2001, 2014–2023)
- Alexius "Lex" Fenwick (2001–2008)
- Daniel Doctoroff (2008–2014)
- Vladimir Kliatchko (2023–present)
Companies Bloomberg Has Bought
Bloomberg L.P. has bought several other companies over the years. This helped them grow and offer more services.
Bloomberg Radio
In 1992, Bloomberg L.P. bought a radio station in New York. They changed it into an all-news station called Bloomberg Radio. Its call letters became WBBR.
Bloomberg Businessweek
In 2009, Bloomberg L.P. bought BusinessWeek magazine. This magazine covers business news every week. After the purchase, it was renamed Bloomberg Businessweek. Bloomberg bought it to reach more general business readers.
New Energy Finance
In 2009, Bloomberg L.P. also bought New Energy Finance. This company provides data and research on clean energy and carbon markets. It was renamed Bloomberg New Energy Finance, or BNEF. BNEF helps provide information about developing low-carbon energy.
Bureau of National Affairs (BNA)
In 2011, Bloomberg L.P. bought the Bureau of National Affairs. This company publishes news and information for professionals in business and government. This purchase helped Bloomberg improve its services for government and legal professionals.
Bloomberg PolarLake
In 2012, Bloomberg L.P. bought PolarLake, a software company. This helped Bloomberg offer new services to manage and share data within companies.
Barclays Indices Business
In 2015, Bloomberg L.P. bought the index business from Barclays. This part of Barclays created financial indexes, which are like benchmarks for markets. It was renamed Bloomberg Index Services Limited.
CityLab
In 2019, Bloomberg Media bought CityLab. This is a news website that covers topics like transportation, environment, and city design.
What Bloomberg Offers
Bloomberg Professional Services
The Bloomberg Terminal is the main product of Bloomberg L.P. It is a special computer system that helps users watch and analyze financial data in real-time. It also provides financial news and allows users to send messages. In 2011, sales from the Bloomberg Terminal made up over 85% of the company's yearly income.
Bloomberg News
Bloomberg News started in 1990. Its goal is to provide financial news to Bloomberg Terminal users. Bloomberg News has many reporters and editors around the world. Their news is shared through the Bloomberg Terminal, Bloomberg Television, Bloomberg Radio, and their magazines.
Bloomberg Radio
Bloomberg Radio broadcasts financial news and information.
Bloomberg Television
Bloomberg Television is a 24-hour TV channel for financial news. It started in 1994. It provides constant news programming to millions of homes around the world.
Bloomberg Markets
Bloomberg Markets is a monthly magazine. It started in 1992. It gives in-depth information about global financial markets for people who work in finance.
Bloomberg Government
Bloomberg Government started in 2011. It is an online service that provides news and information about politics. It also covers laws and regulations.
Bloomberg Law
Bloomberg Law was launched in 2009. It is a service for legal professionals. It provides access to legal documents, court filings, and reports from legal experts.
Bloomberg Opinion
Bloomberg Opinion is a part of Bloomberg News that started in 2011. It offers articles and opinions from writers and editors about current news. It is available for free on Bloomberg's website.
Bloomberg Tradebook
Bloomberg Tradebook is a service that helps with electronic trading of stocks, futures, and other financial products. It helps financial firms buy and sell things quickly and efficiently.
Bloomberg Beta
Bloomberg Beta is a venture capital firm started by Bloomberg L.P. in 2013. It invests in new companies, especially those related to technology.
Bloomberg Innovation Index
The Bloomberg Innovation Index is a yearly ranking of how innovative countries are. It looks at things like research, manufacturing, and education.
Bloomberg Quicktake
Quicktake is Bloomberg's brand for social media. It shares news and content on platforms like Twitter, Facebook, and YouTube. It was renamed from TicToc in 2019.
Bloomberg New Economy Forum
The Bloomberg New Economy Forum is an event for business leaders, government officials, and experts. It discusses important global economic topics. The first event was held in 2018.
Bloomberg Línea
Bloomberg Línea is a partnership launched in 2021. It provides news and information for Spanish, Portuguese, and English-speaking audiences in Latin America.
Bloomberg Intelligence
Bloomberg Intelligence (BI) is Bloomberg's research division. It provides data and analysis on global markets. It is available on the Bloomberg Terminal.
Where Bloomberg Works
Bloomberg L.P.'s main office is in the Bloomberg Tower in Midtown Manhattan, New York City. The company has offices in 167 locations around the world. This includes Bloomberg London, which is their European headquarters.
Bloomberg L.P. has a unique office culture. Even top leaders do not have private offices. All employees sit at similar desks with their own Bloomberg computer terminals. The offices also have many screens overhead that show news and market data.
See also
In Spanish: Bloomberg L.P. para niños
- Bloomberg Markets
- Bloomberg Terminal
- Financial data vendor
