About Bloomberg

Bloomberg L.P. is currently the largest leading financial news and data company in the world with 33% of international market share.date=March 2008 However, it will rival Thomson Financial and Reuters upon the merger of the two companies into Thomson-Reuters. Bloomberg L.P. was founded by Michael Bloomberg (current Mayor of New York City) with the help of Thomas Secunda and other partners (ex coworkers from Salomon Brothers) in 1981 and provides financial software tools such as analytics and equity trading platform, data services and news to financial companies and organizations around the world through the Bloomberg Terminal, its core money-generating product. Bloomberg L.P. has grown to include a global news service, including television, radio, the Internet and publications.

Its current headquarters are located at the Bloomberg Tower in Midtown, Manhattan, New York City.

It was incorporated as a Delaware Limited Partnership (LP) in 1981 and has been in business since 1983. Michael Bloomberg owns 72% of the group and receives an 84.55% share of the profits. Bloomberg's core business is leasing terminals to subscribers. It also runs Bloomberg Television, a financial TV station, and a business radio station WBBR in New York City. Forbes Magazine estimated, in 2000, Bloomberg's cash flow margins on its $2.3 billion in revenues exceed 35%. Bloomberg reports more than 100,000 users in North America, and another 130,000 in the rest of the world. Its competitors include Reuters, Dow Jones Newswires, and FACTSET.