Reuters’ Problems

It is sad when much-admired companies run into problems. Reuters is one such company. They seemed quite visionary in the early days of the Internet. But the past few years have not been good. WSJ writes about Reuter’s problems:

In the 1970s and 1980s, Reuters was among the few companies with both access to financial data and the technological ability to deliver it instantly to trading floors around the world. Many traders simply couldn’t have done their jobs without a Reuters terminal. But the Internet made it much easier for start-ups to gather and repackage all kinds of data on the cheap. Their arrival split the data market in two: the high-end, dominated by Bloomberg, with its fancy technology and instant messaging; and the commodity business, served by low-cost suppliers. Reuters, bureaucratic and riven into fiefs, was left floundering in the middle.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.