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Verizon
Verizon

Telecom service & equipment / Telecommunications and Information Technology

At a Glance | Core Facts | Company Due Diligence: | Industry Due Diligence: | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview
Verizon is a telecommunications company based in the United States. It was formed in 2000 after the merger of Bell Atlantic and GTE. The company is headquartered in New York City and is one of the largest communication technology companies in the world.
Verizon offers a wide range of services including wireless communications, Internet, TV, and digital phone services to both consumers and businesses. It is also a leader in the development of 5G technology, which promises faster and more efficient communication services.
Verizon is known for its reliable and extensive network coverage, particularly for its wireless services. It has over 119 million wireless customers and covers 98% of the US population.
The company also has a strong commitment to sustainability and corporate responsibility. It has invested in renewable energy sources, reduced its carbon emissions, and implemented various initiatives to support its communities and reduce its environmental impact.
Verizon is also a major player in the media and entertainment industry. It acquired AOL in 2015 and Yahoo in 2017, forming Verizon Media, which includes popular brands such as Yahoo Finance, TechCrunch, and HuffPost.
Verizon is continually expanding and innovating its services to meet the evolving needs of its customers. It has a strong focus on providing high-quality, reliable, and secure communication services, making it a trusted and respected company in the telecommunications industry.
What is special about the company?
1. Largest Wireless Network: Verizon has the largest and most extensive wireless network in the United States, covering over 98% of the country's population.
2. Leading 5G Network: Verizon is the leader in 5G technology and has the largest 5G network coverage in the US.
3. Strong Financial Performance: Verizon has consistently been a top performer in the telecommunications industry, with strong financial results and a stable stock portfolio.
4. Innovation and Technology: Verizon is known for its innovative approach to technology and continually invests in cutting-edge advancements in its network and services.
5. High-Quality Customer Service: Verizon has been recognized for its high-quality customer service and ranked first in customer satisfaction among wireless carriers by JD Power for three years in a row.
6. Diverse Products and Services: Verizon offers a wide range of products and services, including wireless, internet, TV, and home phone, making it a one-stop-shop for customers' communication needs.
7. Corporate Responsibility: Verizon has a strong commitment to corporate responsibility, with initiatives focused on sustainability, diversity and inclusion, and community involvement.
8. Acquisitions and Partnerships: Over the years, Verizon has acquired several companies and formed strategic partnerships, strengthening its market position and expanding its product and service offerings.
9. Brand Recognition: Verizon is a well-known and trusted brand, with a strong presence in the telecommunications industry and a loyal customer base.
10. Social Impact: Verizon's philanthropic arm, the Verizon Foundation, has invested millions of dollars in initiatives that support education, health, and sustainability, making a positive impact in communities around the world.
What the company's business model?
Verizon's business model is a multi-segmented approach that involves providing telecommunications and technology services to both individuals and businesses. These services include wireless phone plans, internet and TV packages, home phone services, as well as business solutions such as cloud computing, cybersecurity, and Internet of Things (IoT) services.
Verizon's primary revenue stream comes from its wireless services, which includes postpaid and prepaid plans, device sales, and other related services such as international roaming and data overages. The company also generates revenue through its wireline services, which includes internet, TV, and home phone offerings.
Additionally, Verizon has diversified its business by acquiring media companies such as AOL and Yahoo, which allows them to offer digital content, advertising, and e-commerce services to its customers.
Overall, Verizon's business model focuses on providing a comprehensive range of telecommunication and technology services to meet the evolving needs of both individual and business customers, while also expanding into new markets and industries through strategic acquisitions.
Interesting facts about the company
- Verizon was originally founded as Bell Atlantic in 1983 after the breakup of AT&T.
- The company’s name was changed to Verizon Communications in 2000 after a merger with GTE.
- Verizon is one of the largest telecommunications companies in the world, with operations in more than 150 countries.
- The company’s headquarters are located in New York City.
- Verizon is known for its wireless and wireline services, with its wireless division serving over 100 million customers.
- In 2015, Verizon acquired AOL for $4.4 billion and in 2017, it acquired Yahoo for $4.48 billion, forming a new division called Oath Inc.
- In 2018, Verizon became the first telecommunications company in the world to 5G services in certain cities.
- Verizon is a major sponsor in sports and entertainment industries, including being the title sponsor of the NFL’s Pro Bowl.
- Verizon has received criticism for its involvement in the National Security Agency’s controversial surveillance programs.
- The company’s motto is Better matters, emphasizing its commitment to providing superior services and customer experience.
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