1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. Another invention of Western Union - time synchronization. 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. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. 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.