As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Another invention of Western Union - time synchronization. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. 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 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. Western Union made so that the time in all of American civil services was the same. 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.