Another invention of Western Union - time synchronization. The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. 1970 - a new service called In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.