In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Before transition to remittances Western Union company rendered services on sphere of cable communication. In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.