Verizon facts for kids

Quick facts for kids
Verizon Communications Inc.

Current logo since September 1, 2015
Headquarters in New York City
Formerly	Bell Atlantic Corporation (1983–2000)
Type	Public
Traded as	NYSE: VZ DJIA component S&P 100 component S&P 500 component
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=US92343V1044 US92343V1044]
Industry	Telecommunications Mass media
Predecessors	NYNEX GTE
Founded	October 7, 1983; 41 years ago (1983-10-07)
Headquarters	1095 Avenue of the Americas, New York City, New York , U.S.
Area served	Worldwide, mainly serving United States
Key people	Hans Vestberg (chairman & CEO) Tony Skiadas (EVP & CFO)
Products	Cable television Landline Mobile phone Broadband Digital television IPTV Digital Media Internet Telematics
Revenue	US$133.97 billion (2023)
Operating income	US$22.877 billion (2023)
Net income	US$12.095 billion (2023)
Total assets	US$380.26 billion (2023)
Total equity	US$93.799 billion (2023)
Number of employees	105,400 (2023)
Divisions	Verizon Consumer Verizon Business
Subsidiaries	Yahoo (10%)

Verizon Communications Inc., usually called Verizon, is a huge American company. It offers many services like phone, internet, and TV. Verizon is one of the biggest telecommunications companies in the world. Its main office is in New York City.

The company started in 1984 as Bell Atlantic. This happened after the big Bell System phone company was broken up. Bell Atlantic was one of the "Baby Bells" that formed. It first served states like Pennsylvania and New Jersey.

Later, Bell Atlantic grew by joining with other companies. In 1997, it merged with NYNEX. Then in 2000, it bought GTE. After buying GTE, Bell Atlantic changed its name to Verizon. The name "Verizon" comes from two words: veritas (Latin for "truth") and "horizon."

Verizon also bought internet companies like AOL and Yahoo! Inc. in the 2010s. These were later sold off. Today, Verizon's mobile network is the second largest in the United States. It has over 144 million customers.

Verizon's Journey: A Company History

How Verizon Started and Grew (1984–2002)

In 1983, the US government decided to break up the large AT&T phone company. This led to the creation of several smaller companies, called "Baby Bells." Bell Atlantic Corporation was one of these, formed in 1984.

Bell Atlantic first included phone companies in states like Pennsylvania, New Jersey, and Maryland.

In 1996, Bell Atlantic merged with another "Baby Bell" called NYNEX. After this merger, the company's main office moved to New York City.

Former logo used from 2000 to September 1, 2015. This logo is sometimes still seen on old payphones.

In April 2000, Bell Atlantic teamed up with a British company called Vodafone. Together, they created Verizon Wireless. Bell Atlantic owned most of this new mobile company. Verizon Wireless quickly became very big. It offered national phone service at good prices.

Bell Atlantic officially changed its name to Verizon Communications in June 2000. This happened after it merged with GTE, another large phone company. The name Verizon combines "truth" (from Latin) and "horizon."

Verizon became the largest local phone company in the U.S. It served millions of phone lines and mobile customers. It also started offering internet and long-distance calls.

In 2002, Verizon launched its 3G mobile service. This made internet speeds on phones much faster. They also started offering bundles of services. These bundles included local, long-distance, mobile, and internet services.

Expanding Services and Reach (2003–2010)

In 2004, Verizon joined the Dow Jones Industrial Average, a list of major U.S. companies.

Verizon launched its Fios Internet service in 2004. Fios uses special fiber optic cables to send data very fast. In 2005, Fios TV was also launched. It offered many channels, including high-definition ones.

Verizon started selling off some of its older phone line businesses. This allowed the company to focus more on mobile phones, internet, and TV. For example, it sold phone lines in Hawaii and other states.

In 2005, Verizon bought a long-distance phone company called MCI. This deal helped Verizon serve more business customers and expand globally. A new part of the company, Verizon Business, was created for this.

In 2007, Verizon allowed other companies to create apps and devices for its network. This was a big step. It also helped Verizon get more wireless airwaves in a government auction. These airwaves were used for its 4G service.

Verizon bought two wireless carriers, Rural Cellular Corp. and Alltel, in 2008. These purchases helped Verizon Wireless become the largest mobile carrier in the U.S. It also allowed them to reach more customers in rural areas.

In 2010, Verizon Wireless had to pay a large amount of money for accidentally overcharging customers for data. They said it was a mistake.

Verizon launched its super-fast LTE 4G network in many cities in December 2010. They planned to keep expanding this service.

New Technologies and Growth (2011–Present)

Current Verizon logo (since 2015)

In 2011, Verizon bought Terremark, a company that provides information technology services.

Verizon also bought Hughes Telematics in 2012. This company makes wireless features for cars. This helped Verizon grow its wireless business into new areas.

In 2013, Verizon bought Vodafone's share of Verizon Wireless for a huge amount of money. This made Verizon Communications the full owner of Verizon Wireless.

In 2015, Verizon launched Hum. This device helps car owners with vehicle diagnostics and monitoring. They also bought companies like Fleetmatics and Sensity to grow their IoT (Internet of Things) services.

In 2017, Verizon bought XO Communications' fiber-optic network. This helped them expand their fiber network and prepare for 5G. They also made a deal with Corning Inc. to buy millions of miles of optical fiber.

In 2018, Verizon created Verizon Connect. This combines their services for tracking fleets of vehicles.

In 2019, Verizon started offering free anti-spam and robocalling features to its customers.

Verizon began rolling out its 5G mobile network in April 2019. This new network uses special technology for very high speeds.

In 2020, Verizon bought BlueJeans, a videoconferencing service. This helped them offer more tools for businesses. They also announced plans to buy TracFone Wireless, a prepaid mobile service. This deal was approved in 2021.

In 2021 and 2022, Verizon and AT&T worked with the Federal Aviation Administration to make sure their new 5G networks would not interfere with airplane systems. They found ways to make 5G work safely near airports.

Verizon also bought a lot more "C-Band" spectrum in 2021. This helps them improve their 5G network even more.

In 2023, Verizon announced plans to open a new office in Ireland. This will create many new jobs in technology.

Buying AOL and Yahoo

Service van with Verizon's former logo and livery

In 2015, Verizon bought AOL. The next year, they announced they would buy the main internet business of Yahoo!. After these purchases, Verizon created a new division called Oath. This division included the AOL and Yahoo brands.

Verizon sold its media group, including AOL and Yahoo, in 2021. Verizon still owns a small part of this division.

Verizon's Financial Health

Verizon is a very large company. In 2022, it earned over $136 billion. It is ranked among the top companies in the Fortune 500 list. This list shows the largest companies in the United States.

Where Verizon Operates

Verizon offers internet, phone, home security, and TV services in many states in the eastern United States.

Verizon's Advertising Campaigns

Verizon has created many well-known advertisements over the years.

Can you hear me now?

This famous campaign started in 2001 for Verizon Wireless. It featured an actor known as "Test Man." He traveled around, asking "Can you hear me now?" to show how good Verizon's network was. This campaign helped Verizon get many new customers.

There's a map for that

In 2009, Verizon launched ads that compared its network coverage to AT&T's. The ads showed maps to highlight Verizon's wider coverage.

That's not cool

In 2009, Verizon partnered with other groups to create the "That's not cool" campaign. This campaign aimed to help teens understand and prevent digital dating abuse.

Powerful Answers

In 2013, Verizon started the "Powerful Answers" campaign. It was a contest that offered money to people who could find solutions to big world problems. They had to use Verizon's technology to do it.

Inspire Her Mind

In 2014, Verizon launched "Inspire Her Mind." This campaign encouraged girls to be interested in science, technology, engineering, and math (STEM). It aimed to help more girls choose careers in these fields.

Flipside Stories (#NeverSettle)

In 2015, Verizon's "Flipside Stories" ads showed people sharing their experiences. They highlighted the benefits of having Verizon Wireless or Fios services.

Better Matters

Starting in 2016, Verizon used the slogan "Better Matters." This slogan emphasized the quality of its networks.

Humanability campaign

In 2017, Verizon launched the "Humanability" campaign. These ads showed how Verizon's technology goes beyond just smartphones. They highlighted areas like smart cities and the Internet of Things.

Leadership at Verizon

As of 2024, Hans Vestberg is the chairman and CEO of Verizon. He leads the company's focus on 5G technology.

Giving Back: Corporate Responsibility

Verizon gives money to organizations through its charity, The Verizon Foundation. They also had a program called HopeLine, which gave mobile phones to victims of domestic violence.

Verizon helps with education through programs like Verizon Innovative Learning Schools. These programs give children access to STEM education.

Verizon has also issued "green bonds" to help fund environmentally friendly projects. They aim to be completely carbon neutral by 2035. They also have a "Citizen Verizon" plan to help young people learn digital skills.

Sports and Entertainment Sponsorships

Verizon sponsors many sports teams, events, and venues.

National Hockey League

Since 2007, Verizon has been a big sponsor of the National Hockey League (NHL). They provide special content through Verizon's GameCenter app.

Motorsports

Verizon has sponsored race car drivers and teams. In 2014, Verizon became the main sponsor of the IndyCar Series through 2018.

National Football League

Verizon is also a major partner of the National Football League (NFL). They have a deal that allows Verizon to stream every NFL regular-season and playoff game.

USA Team Handball

In 2020, Verizon became a founding partner of USA Team Handball. They sponsor the national handball teams and the college championships. There are even plans to create a professional team handball league sponsored by Verizon.

Venues

Verizon has sponsored the names of several sports and concert venues. For example, the main concert hall for the Philadelphia Orchestra is called Verizon Hall. They were also a former sponsor of the Capital One Arena in Washington, DC.

See also

In Spanish: Verizon Communications para niños

• List of United States telephone companies