Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 9 pages
Data source: Published sources
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https://casecent.re/p/20080
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Abstract
In the early 1980s, after being fired from Salomon Brothers Inc, Michael Rubens Bloomberg invested his $10 million partnership pay-out to start his own company, Bloomberg LP. By the late 1990s, Bloomberg had emerged as a strong player in the market data industry and began to make dents in the market share of its competitors like Reuters, Bridge and Dow Jones. The success of Bloomberg was attributed to the innovative strategies of Michael Bloomberg. But, in November 2001, when Michael Bloomberg left Bloomberg to become New York City Mayor, there were doubts regarding the future prospects of the company. This case study details the initiatives taken by Michael Bloomberg in order to transform his company from an upstart into a media and financial-data giant. The case offers scope for discussing whether the departure of Michael Bloomberg who played an instrumental role in the company''s growth, would hamper its prospects.
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Abstract
In the early 1980s, after being fired from Salomon Brothers Inc, Michael Rubens Bloomberg invested his $10 million partnership pay-out to start his own company, Bloomberg LP. By the late 1990s, Bloomberg had emerged as a strong player in the market data industry and began to make dents in the market share of its competitors like Reuters, Bridge and Dow Jones. The success of Bloomberg was attributed to the innovative strategies of Michael Bloomberg. But, in November 2001, when Michael Bloomberg left Bloomberg to become New York City Mayor, there were doubts regarding the future prospects of the company. This case study details the initiatives taken by Michael Bloomberg in order to transform his company from an upstart into a media and financial-data giant. The case offers scope for discussing whether the departure of Michael Bloomberg who played an instrumental role in the company''s growth, would hamper its prospects.