Verizon

Verizon Communications Inc. is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average

 

Verizon is headquartered in Basking Ridge, New Jersey. It was founded in 1983 as a joint venture of American telecommunications firm Bell Atlantic, which would soon become Verizon Communications, and British multinational telecommunications company Vodafone. Verizon Communications became sole owner in 2014 by buying Vodafone's 45-percent stake in the company.

Majority owner Verizon Communications became sole owner of its wireless business in 2014, when it bought Vodafone's 45 percent stake. Vodafone received $58.9 billion cash, $60.2 billion in stock and $11 billion in other transactions. An article in The New York Times estimated Verizon Wireless' valuation at about $290 billion.

Verizon's subsidiary Verizon Wireless is the largest U.S. wireless communications service provider as of September 2014, with 147 million mobile customers. And as of 2017, Verizon is the only publicly-traded telecommunications company to have two stock listings in its home country, both the NYSE (principal) and NASDAQ (secondary). As of 2017, it is also the second largest telecommunications company by revenue after AT&T.

 

Verizon is the title sponsor for a number of sporting and entertainment arena the Verizon Arena in North Little Rock, Arkansas; and the Verizon Center in Mankato, Minnesota. SNHU Arena in Manchester, New Hampshire was originally known as the Verizon Wireless Arena until September 2016, when Southern New Hampshire University acquired the naming rights for a period of at least 10 years.

 

Verizon has made over 20 acquisitions, the most notable one's are- Verizon acquired MCI on Nov 5, 2005 for $8.5B. In June 2008 Verizon Wireless purchased wireless carrier Alltel for $28.1B. On January 27, 2011, Verizon acquired Terremark, an information technology services company for $1.4B. Verizon acquired Fleetmatics, a fleet telematics system company in Dublin, Ireland, for $2.4B on August 1, 2016. On June 13, 2017, Verizon acquired Yahoo for $4.48 billion. 

 

 

  • Year founded: 1983
  • Funding Info: $30.1B in 7 funding rounds (Last Funding Type: POST-IPO Equity)/ Verizon has also acquired over 25 companies as well as made 4 investments!
  • Yearly Revenue: $126B (2017)
  • Employee Size: 10,001+
  • Business Valuation: Mkt Cap: $224.99B as of Feb 13, 2019
  • City/Town: Basking Ridge
  • State: NJ
  • Country: United States
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