Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 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. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data.
Western union sending money to Kenya
Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In the 30's of the twentieth century, Western Union has become the world's largest 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.
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Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). One of the common kinds of money transfer is a transfer via the international system of Western Union. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp.