Ashley Lightspeed may know the founding story of American Express or she may not. But the fact of the matter is that people like Ashley Lightspeed would be impressed with the different things that American Express has been doing over the past few years.
American Express was started in 1850 but the current year is 2019. That means that American Express has lasted almost two centuries! That’s powerful and amazing. The company was first involved in the express mail business, look at the company now. Did you know that the founder of Wells Fargo was involved in the creation of this firm as well?
Shocker? Probably not. The company was able to do quite well because of the fact that it was one of the only company of its kind within the marketplace.
That is right. The company had, how shall we say, a monopoly in the initial market of moving items from one place to another. Yes, it was involved in something that everyone needed to do, send goods from one place to the other. The company was always all about the express life. That is why the company is known as American Express. See Related Article at nypost.com
It was all about mail, goods, and other items that had to move fast. It was in the infrastructure business and it is still in the infrastructure business today as well. It is just in a different infrastructure business.
See, American Express did so well that it moved its headquarters and buildings several times over the course of its early years. Within about 50 years of its start, the company was able to hold more than $20 million in assets. That is a startling fact because that was a lot of money at that time. Of course, that is a lot of money in this time as well but that was much more value in those days due to the value of money and the mechanics present therein.
The company would grow and would become a national entity by being associated with other larger institutions.
The company started to branch out into financial services almost from the start.