Western Union

The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado.

The Western Union Company
TypePublic company
IndustryFinancial services
Founded1851; 172 years ago (1851)[1] in Rochester, New York, U.S.
HeadquartersDenver, Colorado, U.S.
Area served
Key people
Jeffrey A. Joerres
Devin McGranahan
(President and CEO)
ServicesWire transfers
Money orders
Money transfers
Bill pay
Transfer tracking
Price estimation
Revenue US$5.6 billion (2018)[2]
US$1.1 billion (2018)[2]
US$851.9 million (2018)[2]
Total assets US$9.0 billion (2018)[2]
Total equity US$−309.8 million (2018)[2]
Number of employees
12,000[2] (2018)

Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York,[3] the company changed its name to the Western Union Telegraph Company in 1856 after merging with several other telegraph companies.[4] The company dominated the American telegraphy industry from the 1860s to the 1980s,[5] pioneering technology such as telex and developing a range of telegraph-related services (including wire money transfer) in addition to its core business of transmitting and delivering telegram messages.

After experiencing financial difficulties, Western Union began to move its business away from communications in the 1980s and increasingly focused on its money transfer services. The company ceased its communications operations completely in 2006,[6][7] at which time The New York Times described it as "the world's largest money-transfer business" and added that, due to the large number of immigrants wiring money home, it will keep this top position.[8]

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