Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. Another invention of Western Union - time synchronization. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.