Verizon Communications

Verizon Communications Inc. was founded in 1885 as a result of a merger between Bell Atlantic and GTE Corp. It is now one of the leading telecommunications companies in the world.

Verizon Communications Inc. was founded in 1983.

On January 1, 1984, AT&T divested itself of 22 local operating companies, which were divided among seven regional holding companies (RHCs). Bell Atlantic Corporation was created as one of the original Regional Bell Operating Companies (RBOCs) in 1984, during the breakup of the Bell System.

In 1986, NJB began the first service to send and receive data via the home personal computer.

In March 1990, GTE Corporation and Contel Corporation merged, forming a telecommunications powerhouse with a market value of $28 billion. The merger aimed to strengthen GTE's assets in telephone service and telecommunications products.

In 1996, CEO and Chairman Raymond W. Smith orchestrated Bell Atlantic's merger with NYNEX, moving its corporate headquarters from Philadelphia to New York City.

On April 3, 2000, Bell Atlantic announced that its new moniker resulting from their prominent union would be Verizon, with the 'V' becoming the peace sign flashed by numerous people in the Verizon Wireless ads of early 2000.

On June 30, 2000, the merger between Bell Atlantic and GTE Corp. was completed, forming Verizon Communications Inc. This merger was one of the largest corporate mergers in the United States.

In 2001, Verizon's total revenues were $67.2 billion, with different segments contributing to the overall revenue. The company experienced a 3.8 percent increase in revenues from the previous year.

In 2002, analysts reported positive long-term financial outlook for Verizon, highlighting the company's market leadership and strong balance sheet. Despite challenges in the telecommunications industry, analysts believed in Verizon's resilience and steady revenue growth.

Verizon Communications was added to the Dow Jones Industrial Average in April 2004, replacing AT&T. AT&T had been a part of the index since the Great Depression.

In December 2004, Verizon.net mail servers were configured to block connections from Europe by default to reduce spam email originating from the region. This move led to customer criticism and a class-action lawsuit.

Verizon began negotiations in 2005 to purchase long-distance carrier MCI, eventually acquiring it for $7.6 billion in March 2005. This acquisition expanded Verizon's presence into global markets and led to the establishment of Verizon Business.

In March 2007, Verizon won a lawsuit against Vonage for patent infringement related to IP address conversion technology. Vonage was ordered to pay $120 million in damages and future royalties.

In January 2007, Verizon secured exclusive marketing and promotional rights with the National Hockey League. The partnership was extended in 2012, with new provisions for exclusive content through Verizon's GameCenter app.

In May 2007, Verizon acquired CyberTrust, a provider of global information security services.

In September 2007, Verizon Wireless reversed a decision to deny NARAL Pro-Choice America a short code for texting consumers. Initially, the company had refused access citing the right to block controversial messages.

In 2008, Verizon acquired Rural Cellular Corp. and announced the purchase of wireless carrier Alltel for $28.1 billion. These acquisitions allowed Verizon Wireless to surpass AT&T in number of customers and expand into rural markets.

In 2009, Verizon sponsored Justin Allgaier in the NASCAR Nationwide Series. They later opted out of a NASCAR team sponsorship with Penske Racing to focus on the IndyCar Series.

On February 7, 2010, Verizon confirmed the explicit block of 4chan.org after detecting security threats. The block was lifted several days later.

Ivan Seidenberg retired as Verizon's CEO on August 1, 2011, and was succeeded by Lowell McAdam.

Verizon purchased Hughes Telematics, a producer of wireless features for automobiles, for $612 million in June 2012 as part of its strategy to expand into new growth areas in its wireless business.

In August 2012, the Department of Justice approved Verizon's purchase of Advanced Wireless Services (AWS) spectrum from a consortium of cable companies, including Comcast, Time Warner Cable and Bright House Networks, for $3.9 billion.

In June 2013, Verizon announced a four-year extension with the NFL, valued at $1 billion. This agreement granted Verizon the rights to stream every NFL regular-season and playoff game.

Verizon purchased Vodafone's 45% stake in Verizon in September 2013 for $130 billion, becoming the third largest corporate deal ever signed.

On January 14, 2014, the DC Circuit Court of Appeals struck down the FCC's net neutrality rules after Verizon filed suit against them in January 2010.

On February 21, 2014, Verizon Communications gained sole ownership of Verizon Wireless, becoming the third largest corporate deal ever signed.

In May 2015, Verizon agreed to pay $90 million to settle federal and state investigations into allegations mobile customers were improperly billed for premium text messages.

On August 1, 2016, Verizon announced its acquisition of Fleetmatics, a fleet telematics system company in Dublin, Ireland, for $2.4 billion.

On September 12, 2016, Verizon announced its acquisition of Sensity, a startup for LED sensors, in an effort to bolster its IoT portfolio.

Verizon was reported to be in talks with Charter Communications in January 2017 to discuss a possible buyout.

Verizon added to its fiber-optic network and 5G capabilities in February 2017 when it closed its $1.8 billion acquisition of XO Communications' fiber-optic network business.

Hans Vestberg succeeded Lowell McAdam as CEO on August 1, 2018, focusing on Verizon's 5G technology.

Verizon began offering anti-spam and robocalling features free of charge to all customers beginning in March 2019.

Verizon began rolling out its 5G mobile network in April 2019; the network was active in 30 cities by the end of the year.

On January 14, 2020, Verizon announced the launch of its privacy-focused search engine OneSearch.

In May 2021, Verizon announced that its media group, including AOL and Yahoo, would be sold to Apollo Global Management for $5 billion, with Verizon retaining a 10% stake in the division.

For the fiscal year 2022, Verizon reported earnings of US$21.75 billion, with an annual revenue of US$136.835 billion, showing a 2.4% increase over the previous fiscal cycle.

Verizon achieves a significant milestone by surpassing 3 gigawatts of renewable energy, positioning itself to meet its ambitious goal of sourcing or generating renewable energy equivalent to 50 percent of its total annual electricity consumption by 2025.

Verizon's engineers push the boundaries of 5G Ultra Wideband technology, achieving upload speeds exceeding 1.26 Gbps, showcasing their commitment to innovation.

Verizon expands its 5G Ultra Wideband network to cover rural and suburban areas, making the ultra-fast and reliable service available to a significant portion of the American population.

Verizon settled its fifth green bond offering of $1 billion, with the net proceeds expected to be allocated entirely toward renewable energy investments to accelerate the transition to greener electrical grids across the U.S.

MOMA and Verizon launched Replica, an app that allows visitors at The Met to scan artwork and bring elements of the works digitally into the global immersive platform Roblox through augmented reality.

Verizon awarded a total of $500,000 to four innovative climate tech solutions providers focused on reducing climate change impacts on key communities across the U.S.