Company Name: Verizon Communications Inc.
Industry: Telecom Services
Sector: Communication Services
Description: Verizon Communications Inc. is one of the world’s largest telecommunications companies, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.
Verizon Communications was founded on June 30, 2000, by Bell Atlantic Corp. and GTE Corp., in one of the largest mergers in U.S. business history. The company's history can be traced back to the breakup of the Bell System in 1984, which resulted in seven regional Bell operating companies, or "Baby Bells." Bell Atlantic and NYNEX, two of the Baby Bells, merged in 1997, and acquired GTE in 2000, forming Verizon. Verizon then expanded its wireless, wireline, media, and enterprise businesses through various acquisitions and partnerships, such as AOL, Yahoo, Disney, and Discovery. Today, Verizon is a global communications technology company delivering the promise of the digital world to millions of customers every day.
The company’s Consumer segment offers wireless and wireline services, such as voice, data, video, and broadband, to residential and small business customers. The company serves about 92 million postpaid and 22 million prepaid wireless customers, making it the largest U.S. wireless carrier. The company also offers fiber-optic internet, TV, and phone services under the Fios brand, reaching about 8 million broadband customers.
The company’s Business segment provides wireless and wireline services, such as voice, data, video, security, and cloud, to enterprise, government, and wholesale customers. The company also offers network and technology solutions, such as 5G, Internet of Things (IoT), edge computing, and software-defined networking (SDN). The company serves various customers in the banking, insurance, healthcare, retail, and government sectors.
The company aims to leverage its 5G network to offer new and enhanced services and solutions for its consumer and business customers, such as mobile gaming, augmented reality (AR), virtual reality (VR), and smart cities.
The company is also focused on enhancing its media and content offerings. The company owns and operates various digital media brands, such as Yahoo, AOL, HuffPost, TechCrunch, and Engadget, which reach over 900 million monthly active users. The company also offers various streaming services, such as Disney+, Hulu, ESPN+, and Discovery+, through its partnerships and distribution agreements.
CEO: Mr. Hans E. Vestberg
Website: https://www.verizon.comExchange: New York Stock Exchange