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What Is Bloomberg?
Bloomberg is a global provider of financial news and information, including real-time and historical price data, financial data, trading news, and analyst coverage. Its services, which span its platform, television, radio, and print, offer professional analysis tools for financial professionals.
One of Bloomberg’s key revenue earners is the Bloomberg Terminal, an integrated platform that streams price data, financials, news, and trading data to more than 325,000 customers worldwide.
Key Takeaways
- Bloomberg is a media conglomerate and provider of financial news and information, research, and financial data.
- Bloomberg was founded by Michael Bloomberg in 1981 as a provider of financial analytics and information.
- The Bloomberg Terminal provides snapshots and detailed information about financial markets.
History of Bloomberg
Bloomberg was founded by Michael Bloomberg in 1981 as a provider of financial analytics and information. The company started with its flagship Bloomberg Terminal and grew to over 10,000 installed units within its first ten years of operation. It then implemented Bloomberg News, an international financial news provider.
Subscriptions for the news source grew to 150,000 over the next 10 years, and the company then Bloomberg Tradebook, allowing people to trade directly through Bloomberg. The company provides financial products and media services.
Bloomberg grew to a leading financial company with over 325,000 subscriptions to its professional services, almost 1 million global circulations of Bloomberg Businessweek, and over 150 news bureaus internationally.
The Bloomberg Terminal
The Bloomberg Terminal, also known as the Bloomberg Professional Service, is a software system and computer interface that gives financial professionals the ability to track and analyze breaking news across the globe.
The Bloomberg Terminal is geared toward large, institutional investors, and facilitates communication, information, and trade between institutions. The average customer pays upwards of $20,000 per year for the service.
To support this massive network of financial information, data encryption, messaging, and trading, Bloomberg employs over 4,000 computer engineers around the globe. These engineers make improvements to the Bloomberg Professional Service so it continues to provide the most comprehensive array of financial capabilities open to the general public.
Bloomberg implements aspects of current tech trends, such as its adoption of open-source technologies like Hadoop big-data framework and Solar search platform. In May 2015, Bloomberg opened up a technology hub in San Francisco, moving the majority of its engineers away from its New York headquarter offices.
What Information Does a Bloomberg Offer?
Bloomberg provides online information on markets, technology, politics, and opinion. Bloomberg Live is the largest newsroom in the world using Bloomberg Intelligence and Bloomberg Global Data to enable moderators and speakers to produce compelling news conversations.
What Customer Tools Does Bloomberg Offer?
Bloomberg provides technological tools for its clients. From the Bloomberg Terminal to flexible enterprise solutions, Bloomberg helps financial market players integrate their systems, and automate their workflows that inform their decision-making.
How Does Bloomberg Gather Information?
With 2,700 journalists and analysts in 120 locations, Bloomberg publishes over 5,000 new stories a day across multiple platforms.
The Bottom Line
Bloomberg is a provider of financial news and information, research, and financial data, founded by Michael Bloomberg in 1981. The Bloomberg Terminal provides snapshots and detailed information about financial markets across global markets. Its media platform Bloomberg Live is considered one of the largest global newsrooms.
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