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Downey started as a Citigroup commodities trader in Manhattan two days after graduating from the University of Limerick. That’s a hike of just 1.3 from the price of 1,975 in 2011, and adjusting for inflation, it. Downey and his team were able to bootstrap the company with their own money and now have the customers to support it.Ī native of Ireland, Mr. Bloomberg is currently charging single-terminal subscribers 2,000 a month for two-year contracts.
HOW MUCH IS A BLOOMBERG TERMINAL SUBSCRIPTION SOFTWARE
He says his customers benefit from the rapidly dropping cost of technology.Īiming to be known as innovative, not cheap, Money.Net has created new products such as software that culls relevant TV clips from business-news cable channels for subscribers throughout the day.Īnother benefit of low-cost technology: Mr. students and others unwilling or unable to pay $24,000 a year for a Bloomberg subscription when they can get what they need from $1,140-a-year Money.Net, according to Mr. Such people include financial-industry employees, M.B.A. "We're trying to give a Thomson Reuters or Bloomberg experience to people who have never seen, and, if we're successful, never will." "We're not targeting to wipe those guys out," the 42-year-old CEO explained. Though he wants to "expand the pie," not devour it, he believes innovation in the industry has slowed. Downey, who spent four years as global head of commodities at Bloomberg before founding Greenwich Street-based Money.Net. for Bloomberg Terminal, a special computer system with subscription access. "This market is ripe for disruption," said Mr. The Business Administration Division is home to 5 Bloomberg terminals which. But the two-hour outage did back up the point he has been making since he launched his own market-data platform, Money.Net, last year: Bloomberg and Thomson Reuters' financial-data "oligopoly" was bad for businesses. Morgan Downey wasn't cheering in April when the terminals of financial-data giant Bloomberg LP went dark around the world.