Western Union Company is America’s best-known company, basically from its previous services of exchanging telegram. After the advancement in communication technology, the company quickly changed into a financial service company that offers communications services as an option. After being launched in 1851, the company soon offered telegram services commercial incorporated with other standard melodygrams, Dollygrams, and Cablegram services. And through these additional services, the company managed to monopolize the whole industry at the turn of the 20th century.
After the launching of the company by joining the two largest American telegram companies, it expanded its services from the east coast to the Ohio River, and later they launched a transcontinental telegraph. Starting from 1867, the company enjoyed growth as its capital rose from $385, 700 in 1865 to $41 million in 1876. After the company introduced its first stock ticker in 1866 under the new management, it started a money transfer business through its telegram services. And the increasing use of the telephone at the time led to a shift in the company business to money transfer. By the year 1967, the Western Union was Western Union Internation, and its value was estimated to be over $390 Million.
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Currently, Western Union appears to be fine since its growth from the 1980s is not seen, and its stock markets dropped by 20%, then it stabilized for almost 12 years showing a plateaued metric. And with the slow growth of global remittance, the company’s stock will remain the same in the coming years. Studies show that the company’s revenue, there is a continuous flat pattern in revenue from the last five years from 2014, with revenues averaging at $5.6 billion. Since the company offers Mobile and connect services, it employes an estimate of 12,000 people globally with an operating income of $1.1 billion. It is essential to look at the financial books of the company, and there is a small debt with its profits double them hence proving the stability of the company.
References
Rivise, M. J. (2019). Inside Western Union . Pickle Partners Publishing.
