What Is Bloomberg?
Let me explain what Bloomberg is directly to you. Bloomberg serves as a global provider of financial news and information, delivering real-time and historical price data, trading news, and analyst coverage. Its services extend across platforms including the main system, television, radio, and print, providing professional analysis tools for those in the financial sector.
The Bloomberg Terminal
One of the main ways Bloomberg generates revenue is through the Bloomberg Terminal, an integrated platform that streams price data, financials, news, and trading information to more than 350,000 customers around the world. You should know this is geared toward large institutional investors.
Key Takeaways
- Bloomberg functions as a media conglomerate focused on analyzing financial news, information, and data.
- The company was founded by Michael Bloomberg in 1981.
- The Bloomberg Terminal offers snapshots and detailed information about financial markets.
History of Bloomberg
Founded by Michael Bloomberg in 1981, Bloomberg began as a financial analytics and information platform with its flagship Terminal. It grew rapidly, reaching over 10,000 installed units in the first decade. Then it launched Bloomberg News as an international financial news provider. By 1991, it had over 325,000 subscribers to its professional services, nearly 1 million global circulations of Bloomberg Businessweek, and more than 120 news bureaus worldwide. The Bloomberg Business site went live in 2015 and quickly attracted over 20 million unique visitors, even surpassing the Wall Street Journal. As of 2024, Bloomberg Media includes various digital resources like podcasts and streaming, with digital subscriptions exceeding 500,000 in 2023.
Fast Fact
Here's a quick note: Michael Bloomberg served three terms as the Mayor of New York City.
More on the Bloomberg Terminal
The Bloomberg Terminal, also called the Bloomberg Professional Service, is a software system and computer interface designed for financial professionals to track and analyze breaking news globally. Bloomberg has incorporated open-source technologies such as the Hadoop big-data framework and the Solar search platform. In May 2015, it opened a technology hub in San Francisco, relocating most engineers from New York headquarters, where over 4,000 computer engineers support data encryption, messaging, and trading. As of 2024, Bloomberg operates in 159 global locations and employs more than 21,000 people.
What Information Does Bloomberg Offer?
Bloomberg delivers online information covering markets, technology, politics, and opinions. Through Bloomberg Live, which is the world's largest newsroom, it uses Bloomberg Intelligence and Bloomberg Global Data to facilitate compelling news conversations with moderators and speakers.
What Customer Tools Does Bloomberg Offer?
Bloomberg supplies technological tools for its clients, ranging from the Bloomberg Terminal to flexible enterprise solutions. These help financial market participants integrate their systems and automate workflows that support informed decision-making.
How Does Bloomberg Gather Information?
With 2,700 journalists and analysts spread across more than 100 locations, Bloomberg publishes over 5,000 new stories each day on multiple platforms.
The Bottom Line
In summary, Bloomberg delivers financial news, information, research, and data via its Terminal, media outlets, and digital subscription services. Remember, it was founded by Michael Bloomberg in 1981.
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