Business Wire facts for kids
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| Subsidiary | |
| Founded | 1961 |
| Founder | Lorry I. Lokey |
| Headquarters | 101 California Street,
San Francisco, California
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Number of locations
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29 (2018) |
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Key people
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| Parent | Berkshire Hathaway |
Business Wire is an American company that helps other companies share their news with the world. They send out official announcements, called press releases, to news channels, websites, and even social media. This way, everyone can learn important updates from businesses and organizations. Business Wire is owned by a big company called Berkshire Hathaway.
Contents
The Story of Business Wire
How It All Started
Business Wire was started in 1961 by a person named Lorry I. Lokey. At first, it only sent news to 16 media places in California. In May 1995, Business Wire launched its own website. This made it much easier to share news widely.
In 2000, Business Wire changed how it shared financial news. Before, some financial news places got the information 15 minutes earlier. Business Wire stopped this. They wanted everyone to get company news at the same time. This was in line with a rule called "fair disclosure" from the SEC. The SEC is like a watchdog for financial markets.
Growing Around the World
Business Wire started to grow internationally in 2001. They opened their first office in London, England. This helped them share news across Europe.
In 2005, Business Wire began working in Germany. They helped companies there share important financial news. This service followed rules set by BaFin, Germany's financial regulator. Later that year, they also set up similar services in France, Sweden, Switzerland, and Luxembourg. This was to prepare for new rules in the European Union about sharing information.
Expanding to Asia and New Ownership
On January 10, 2005, Business Wire opened an office in Tokyo, Japan. This helped them reach more people in Asia. Later that year, their website became available in Japanese. This meant the site was available in seven different languages.
On January 17, 2006, Berkshire Hathaway announced that it was buying Business Wire. Berkshire Hathaway is a very large company led by Warren Buffett. The deal was completed on March 1, 2006.
New Partnerships and Technology
In 2008, Business Wire teamed up with ImpreMedia. Together, they launched LatinoWire. This service helps share news with Hispanic websites, media, and bloggers.
In 2011, Business Wire received a special patent. This patent was for a way to make press releases easier to find online. It helped news stories show up better in search engines like Google.
In September 2013, Business Wire announced a special partnership with VentureBeat. VentureBeat is a popular website for tech news. In November 2013, Business Wire opened another office in Hong Kong. This helped them expand even more in Asia.
In January 2014, Business Wire launched a new service. This service helped companies make their news and content even better for sharing.
Leadership Change
In April 2017, Cathy Baron Tamraz, who was the CEO and president, retired. Geff Scott, who had been the chief financial officer for a long time, took over as the new CEO.
See also
In Spanish: Business Wire para niños
- List of press release agencies
