Dear Members and Friends of the CVA,
If the second quarter of 2017 was when we launched, the third quarter was when the CVA reached orbit. Not only has our membership increased almost thirtyfold since March, we also started expanding with our new chapter in Western Switzerland.
Judging by activity and media interest, Crypto Valley and the CVA have become firmly established names in the global blockchain community too. Such visibility is great for us – it is part of our mission to promote our ecosystem.
But visibility is a means, not an end. So while, as you can read in our Q3 2017 quarterly newsletter, Crypto Valley has gained a reputation as a great place to launch a token, our ambition for the ecosystem is about more than just being a hot spot for raising capital. We want to become a location known for generating great ideas, building superior technology, and creating good jobs as well.
With the Swiss Economy Minister, who visited us in August, promoting a similar vision, and such initiatives as next year’s Crypto Valley Conference, or the new Crypto Valley Labs, we think the signs are in our favor in this respect.
This impression is strengthened when we consider such exciting developments as blockchain-based digital identity becoming a reality in Zug, or the success of Swiss-based projects like Melonport or Ambrosus, or note that Swisscom, the country’s largest telco, has started its own blockchain business (and joined our Association). With all this going for it, we think it safe to say that our Valley has and will continue to play an important role in the development of blockchain technology and its broader application.
That’s the kind of visibility we are striving for.
– Vasiliy Suvorov, Vice President, Crypto Valley Association
Read the full Crypto Valley Association Q3 2017 Quarterly Newsletter
Join the CVA and/or subscribe to our newsletters.
Financial information is king and Thomson Reuters Corporation holds the crown. The company is the market leader in financial data (ahead of rival information provider Bloomberg). Thomson Reuters provides electronic information and services to businesses and professionals worldwide, serving the financial services, media, legal, tax and accounting, and science markets. Data is primarily offered online, and to a lesser extent via CD-ROM and print formats; nearly all revenues come from subscription sales to its plethora of offerings. Thomson Reuters was created in 2008 as the result of the $16 billion cash and stock purchase of news service Reuters by information provider The Thomson Corporation.
Operations
The company is organized into four business units. Its Financial & Risk segment accounted for more than 50% of total net sales in fiscal 2014. The segment provides news, information, and analytics to financial institutions.
The company's Legal segment provides online and print information, decision tools, software, and services that support legal, investigation, business, and government professionals. The Legal unit accounted for more than 25% of total net sales in fiscal 2014.
Thomson Reuters' Tax & Accounting segment offers integrated tax compliance and accounting information, software, and services to accounting firms, corporations, law firms, and governments. The unit accounted for 11% of total net sales in fiscal 2014.
The company's Intellectual Property & Science segment provides comprehensive intellectual property and scientific information, decision support tools, and services to governments, academia, publishers, corporations, and law firms. The Intellectual Property & Science unit accounted for 8% of total net sales in fiscal 2014.
Geographic Reach
Thomson Reuters has a truly global scale indeed. The company operates in more than 100 countries, and more than 40% of revenues come from outside the Americas. The business has US offices in Connecticut, Massachusetts, Minnesota, New York, and Texas, and international offices in London and Bangalore, India.
Sales and Marketing
Thomson Reuters sells its products and services directly to its customers. In addition, it has been successful in selling some of its products and services online directly to customers. Focusing some of the marketing and sales efforts online has allowed it to broaden the range of customers and reduce sales and marketing costs.
Financial Performance
In fiscal 2014 Thomson Reuters' revenue was $12.6 billion. That was a decrease of $95 million compared to fiscal 2013. The primary reason for the drop was decreased sales from the company's Financial & Risk unit partially offset by increased sales from the Tax & Accounting segment.
The company's net income was $1.9 billion in fiscal 2014. That was a dramatic increase compared to the previous fiscal period. The primary reason was due to decreased operating expenses.
Thomson Reuters ended fiscal 2014 with $2.3 billion in cash on hand from operations. That was an increase of $263 million compared to the prior fiscal year.
Strategy
The company's growth strategy mainly involves developing new products, services, applications, and functionalities to better meet its customers' needs.
