Today 18 years ago, we established financial.com. On the road to adulthood we have experienced many successes (and failures). In retrospect, successes always appear to be exactly planned while failures – fortunately – get forgotten. Today it’s a chance to tell the story again and look back gratefully.
We decided to rent an office in the Euro-Industriepark in Munich. Far out in the north of Munich the rent was low. While many New Economy companies spent their investors’ money for best locations in downtown Munich financial.com’s focus has always been on a sustainable operating cash flow. We thank our early employees who joined a small company and valued table soccer and bench press higher than designer furniture. In 2011 we moved to a modern office in Schwabing.
Our first product was a warrant calculator hosted on options.de which allowed investors to calculate the Greeks in real-time. At that time there was only a print magazine that was already outdated as soon as it was sold at the kiosk. Our website was a niche business. Happily, Goldman Sachs, Unicredit, and Société Générale trusted us and bought advertising.
We wanted to grow the business both across all asset classes and in many countries. The purchase of the domain financial.com was an important milestone for our strategy. We soon learned that running a financial portal is very expensive. We could neither afford market data nor exchange fees. But at least we developed the software to deliver the data ourselves. In 2000 we were the first company that displayed Reuters market data in the internet. Soon Reuters asked us to close our portal and instead help their customers build financial websites. In April 2000, we entered a strategic partnership for bespoke solutions with Thomson Reuters that has become the foundation of our corporate strategy. Due to this partnership we established an office in Frankfurt close to Thomson Reuters in 2001.
In 2003 we took the next step and developed customized market data terminals. With high-quality content of Thomson Reuters and comprehensive permissioning we laid our focus on finance professionals. During the first 10 years of our partnership financial.com was mainly active in Germany and Continental Europe. In 2010 we expanded our activities into the Americas. In February 2014 we opened an office in Toronto, followed by a data center in Chicago in 2017. Furthermore financial.com started a branch office in Kochi, India, as a development site in 2015.
Over the years financial.com has grown continuously to more than 100 employees. We see ourselves well positioned for the future as many megatrends favor our business model. Customers buy fewer and fewer standard products and ask for more customization. Many fintech companies are attacking banks and force them to invest in innovative solutions developed by firms like us. Moreover, regulators require more transparency and risk management than ever.
Just like Thomson Reuters, our company has always remained a family business with focus on sustainability and long-term increase in value. We feel privileged that we can do what we love with the people that we like. We thank all customers and employees for their support and for their passion.