Trouble in the Bloomberg Solar System

Longreads

The Bloomberg was often seen inside the company it built as a sort of heavenly body. Dan Doctoroff likened it to the sun, a “life-giving force” that sustains its orbiting planets of business and media ventures. The CEO kept a model of the solar system near his desk, with a tiny replica of The Bloomberg affixed to the sun. The analogy might have even been too limited. There are now 324,000 Bloombergs in operation. Each brings in more than $20,000 in annual subscription fees per user. Bloomberg’s annual revenue is about $9 billion, with gross profit approaching $3 billion, according to Douglas Taylor of Burton-Taylor International Consulting, a market research and consulting firm that closely tracks the privately held company. The lion’s share of that profit comes from the terminal, which Bloomberg’s media operation and its 2,400 journalists exist to serve. Started by Winkler as a supplement to…

View original post 218 more words

Advertisements
Trouble in the Bloomberg Solar System

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s