Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. Before transition to remittances Western Union company rendered services on sphere of cable communication. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones. 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.