Bloomberg

What is 'Bloomberg'

Bloomberg is a major global provider of 24-hour financial news and information, including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. Its services, which span its own platform, television, radio and magazines, offer professionals analytic tools. One of Bloomberg's key revenue earners and what it is well known for is the Bloomberg Terminal, which is an integrated platform that streams together price data, financials, news and trading data to more than 300,000 customers worldwide.

BREAKING DOWN 'Bloomberg'

Bloomberg was founded by Michael Bloomberg in 1981 as a technology provider of financial analytics and information. The company started with its flagship Bloomberg Terminal and saw itself grow to over 10,000 installed units within its first 10 years of operation. It subsequently built off its success by implementing Bloomberg News, an international financial news provider. Subscriptions for the news source grew to 150,000 over the proceeding 10 years, and the company then launched Bloomberg Tradebook, allowing people to trade directly through Bloomberg. As of 2016, the company is made up of financial products, enterprise products, industry products and media services.

Since its inception, Bloomberg has grown to become one of the most important financial companies in the world. It has over 327,000 subscriptions to its professional services, almost 1 million global circulations of Bloomberg Businessweek and over 150 news bureaus internationally.

The Bloomberg Terminal

The iconic 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 trades between institutions. The average customer pays upwards of $20,000 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 daily tweaks and improvements to the Bloomberg Professional Service so it continues to provide the most comprehensive array of financial capabilities open to the general public.

Bloomberg actively stays ahead of the technology curve by implementing aspects of current tech trends, such as its adoption of open-source technologies like Hadoop big-data framework and Solr search platform. In May 2015, Bloomberg opened up a technology hub in San Francisco, moving the majority of its engineers away from its traditional New York offices. The company hopes this will allow it to acquire and retain top engineering talent and help it continue to deliver the highest level of technological capabilities to its Bloomberg Professional Service customers.

RELATED TERMS
  1. Bloomberg Terminal

    A computer system that allows investors to access the Bloomberg ...
  2. Michael Bloomberg

    Michael Bloomberg is one of the wealthiest persons in the world ...
  3. Reuters

    A global information provider headquartered in London, England, ...
  4. News Trader

    A trader or investor who makes trading or investing decisions ...
  5. Baked In The Cake

    Projections, expectations and other news items that are already ...
  6. Financial Engineering

    The use of mathematical techniques to solve financial problems. ...
Related Articles
  1. Investing

    How Bloomberg Makes Billions (Hint: Not Just News)

    A look at the inner workings of one of Wall Street's most secretive (yet most important) private companies.
  2. Investing

    Bloomberg Stock Doesn’t Exist; Here is Why

    Look at why there is no Bloomberg LP stock, including a review of the company's history, products, ownership and major competitors.
  3. Trading

    The Bloomberg Terminal At A Glance

    The Bloomberg Terminal is one of the most popular tools for real-time financial information. Find out what it is and what it can do for you.
  4. Investing

    Financial News Comparison: Bloomberg Vs. Reuters (BAC, GOOG)

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  5. Trading

    The Bloomberg Terminal: Step By Step

    Bloomberg is synonymous with investment information- its media outlet and software/hardware are used by most, if not all, professional money managers.
  6. Managing Wealth

    How Symphony Plans to Take on Bloomberg

    Bloomberg has dominated the financial information industry since forever. Will Symphony be the company to finally knock Bloomberg off its perch?
  7. Markets

    Trump vs. Bloomberg: How They Compare

    If Bloomberg enters the presidential race how will he compare to billionaire brethren Trump?
  8. Managing Wealth

    Top 3 Billionaires Living In New York City

    Take a look at the careers of New York City's three most successful and famous billionaires: David Koch, Michael Bloomberg and Carl Icahn.
  9. Markets

    Michael Bloomberg's Take on Brexit

    Learn the history and implications of Brexit, and see why Michael Bloomberg thinks Britain's withdrawal from the EU would be disastrous.
  10. Markets

    Top 6 Apps for Financial News

    Understand why real-time financial information is so important in today's business environment. Learn about the top six financial information apps.
RELATED FAQS
  1. Who are Morningstar's (MORN) main competitors?

    Research Morningstar's largest competitors in order to better understand the company's position in the financial information ... Read Answer >>
  2. Who are Thomson-Reuters (TRI) main competitors?

    Research the main competitors of Thomson Reuters in order to better understand the company's position in the publishing and ... Read Answer >>
  3. How do subscription business models work?

    Understand how a subscription business model works and why companies prefer a subscription business model over a traditional ... Read Answer >>
  4. What is the difference between portfolio management and financial planning?

    Understand the difference between financial planning and portfolio management, and learn which financial professionals can ... Read Answer >>
  5. Why do stock prices change following news reports?

    Stock prices move up and down every minute due to fluctuations in supply and demand. If more people want to buy a particular ... Read Answer >>
  6. How difficult is it to understand business analytics?

    Find out what it takes to understand the method of business analytics, and how to start a career through one of its many ... Read Answer >>
Hot Definitions
  1. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  2. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  3. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  4. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  5. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  6. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
Trading Center