Categories: OLD Media Moves

Bloomberg revenue to hit $7B in 2010

Keith Kelly of the New York Post reports that privately held Bloomberg L.P.‘s revenue will hit $7 billion this year, up 12.6 percent from 2009.

Kelly writes, “By 2014, the privately-held company, which doesn’t disclose financial results or forecasts, hopes to grow its top line by 43 percent, to $10 billion a year, according to a year-end memo from Chairman Peter Grauer and President Dan Doctoroff.

“In the memo, Grauer and Doctoroff promise employees some sweet rewards if the company hits the $10 billion revenue mark by June 30, 2014.

“‘If Bloomberg attains this goal between July 2013 and June 2014, employees will receive more than 70 percent of the salary they earn between Jan. 1, 2009 and the date of attainment,’ the company has told employees. As worded, the bonus could amount to 3½ years’ pay. However, some insiders are whispering that the bonus would be limited to 70 percent of the average annual salary over the time span.”