In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. 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.