HIGH RISK MERCHANT ACCOUNT PROVIDERS CANADA
Merchant Stronghold
MERCHANT SERVICES FOR HIGH RISK BUSINESSES
Successful Companies That Started Life As Something Totally Different
Iron Mountain Origins: Herman Knaust, renowned mushroom farmer, needed more space for his mushrooms, so in 1936 he bought some land and an abandoned iron ore mine to expand his business. As the mushroom business changed, Knaust shifted his business plan and, in 1951, rechristened the abandoned) mine the “Iron Mountain Atomic Storage Corporation.” As the Red Scare gripped the nation, businesses lined up to hide their documents in the Iron Mountain “vaults.”
Hasbro Origins: In 1923, three brothers started a textile company that sold fabric remnants, and Hassenfeld Brothers were born. For the next two decades, the company expanded their catalog to pencils and other school supplies. In 1964, the company took a chance and started to manufacture GI Joe action figures. Now: The gamble paid off, as Hasbro became one of the largest toymakers in the United States. With over 4 billion dollars a year in revenues, their acquired subsidiaries have created toys that vary from Parker Brothers board games to Tiger Electronics’ Furby.
Western Union Origins: In 1855, the Western Union Telegraph Company was born. For those of you not enlightened on telegraph technology, the telegraph was a communication tool slightly less advanced than two cans connected by a string. In 1884, Western Union was one of the first 11 American companies on the newly-created New York Stock Exchange. By 1900, Western Union operated over a million miles of the telegraph line. Now: The telegraph industry has long been dead and buried but, through aggressive acquisitions, Western Union is now one of the largest money transfer companies in the world, with revenues of over 5 billion dollars in 2010.
Texas Instruments Origins: Founded in 1951, Texas Instruments was created from the ashes of Geophysical Service Inc. The primary customers at the birth of the company bought their equipment in the seismic industry. In 1967, the hand-held calculator was pioneered by the company, and a generation of schoolchildren depended on TI to pass their math tests Now: With revenues of over 12 billion dollars a year, Texas Instruments still makes calculators but, with a calculator on nearly every computer and cell phone, the real money now lies in its semiconductors, chips for cell phones, and digital signal processors.
3M Origins: Formed in 1902 in rural Minnesota, 3M quickly failed when their corundum mine turned out to be an anorthosite mine. The investors regrouped, moved to the larger city of Duluth, and then started to make sandpaper. Now: Headquartered in Minnesota’s capital city of St. Paul, 3M manufactures products include, but are not limited to; bondo, scotch tape, post-it notes, scotch guard, hockey grip tape, skin tape, Thinsulate, and stethoscopes. 3M’s revenues were nearly 30 billion dollars in 2012.
American Express Origins: Founded as an express mail business in Buffalo, New York in 1850, American Express was born from the mergers of multiple companies. Buying its first assets in New York City four short years after its founding, the headquarters was to follow in 1874. The company’s signature contribution to the world of finance was conceived in 1890, the Travelers Cheque.
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