In 2016, the company launched its first television advertising campaign in nearly twenty years "Craftsmen of Commerce" cost $20 million and included three advertisements for national news and sports networks. enterprise-business platform - a change that disrupted short-term business, but one they have said would significantly improve the company's long-term operations." Pitney Bowes' executives said the declines were caused by "the changeover to a new U.S. By the end of 2016 it had 15,700 employees. The company's revenues also decreased 5% from 2015 to 2016 when it reported $3.4 billion in revenue. Pitney Bowes' 2015 profits totaled $408 million, but this declined to $95 million in profits for 2016. Pitney Bowes unveiled its new logo in January 2015, replacing one used since 1971 the rebranding campaign, which included an updated Web site and marketing, reportedly cost between $40 million and $80 million. In 2014, the company announced plans for a rebrand. In March 2014, Moody's Investors Service assigned a long-term rating of Baa2 to the company's proposed $350 million senior unsecured notes (due 2024) and reiterated their stable outlook on Pitney Bowes. According to the Hartford Courant, Pitney Bowes was eligible to receive as much as $27 million in subsidies over five years as part of the state's "First Five" program, for keeping 1,600 employees and adding 200 more. Pei & Partners-designed headquarters in Stamford for nearly $40 million in 2013, and relocated to a new, smaller headquarters in the city. The ratings agency said its main concern was "the downward trajectory" of Pitney Bowes' revenue, and added that they have a "negative outlook." The company sold its I.M. In February 2012, the credit rating for Pitney Bowes International Holdings was lowered by Fitch Ratings from BBB+ to BBB. In 2009, Pitney Bowes was named one of the world's largest software companies by Software Magazine and in December it opened its first customer innovation center in Shelton, Connecticut. One of the patents increases the lifespan of electronic scales, reducing landfill waste, and the other is an inkjet printing technology that reduces ink use. In 2008, in conjunction with other companies, Pitney Bowes donated two of its 3,400 patents to the Eco-Patent Commons, which is operated by the World Business Council for Sustainable Development, in an effort to reduce pollution. īy 2005, the company employed 32,500 people and the next year reported $5.7 billion in annual revenue and more than 35,000 employees. The two companies reached a settlement in August 2003. In April 2003, Pitney Bowes filed a lawsuit in Seattle's King County Superior Court against Mark Browne and Howard Gray, who founded the competing company Nexxpost in 2002, as well as six other former employees, for engaging "in transgressions ranging from misappropriation of trade secrets to violating confidentiality agreements". Pitney Bowes was valued at around $18 billion in December 1998. In 1971, the company introduced a new logo, which represented the "intersection of paper-based and electronic communication". In 1950, Pitney Bowes initiated an advertising campaign in national publications with the message, "Metered mail makes the mailer's life easier". The company created its first logo, which symbolized "the security of the metered mail system", in 1930. These two companies merged to form the Pitney Bowes Postage Meter Company in 1920 with the invention of the first commercially available postage meter. Bowes moved his operations to Stamford in 1917. In 1908, English emigrant and founder of the Universal Stamping Machine Company Walter Bowes began providing stamp-canceling machines to the United States Post Office Department. Rummler, founded the Pitney Postal Machine Company. In 1902, Arthur Pitney patented his first "double-locking" hand-cranked postage-stamping machine, and with patent attorney Eugene A. History įormer Pitney Bowes headquarters in Stamford Pitney Bowes is based in Stamford, Connecticut and as of October 2021 employed approximately 11,000 people worldwide. Pitney Bowes has also commissioned surveys related to international e-commerce. Pitney Bowes is a certified "work-share partner" of the United States Postal Service, and helps the agency sort and process 15 billion pieces of mail annually. The company provides mailing and shipping services, global e-commerce logistics, and financial services to approximately 750,000 customers globally, as of 2021. The company was founded by Arthur Pitney, who invented the first commercially available postage meter, and Walter Bowes as the Pitney Bowes Postage Meter Company on April 23, 1920. is an American technology company most known for its postage meters and other mailing equipment and services, and with expansions into e-commerce, software, and other technologies.
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