Florists' Transworld Delivery
From Wikipedia, the free encyclopedia
Florists Transworld Delivery or FTD is a company based in Downers Grove, Illinois, in the United States. It operates two main businesses: The Consumer Business sells flowers and gift items through its websites and The Floral Business sells computer services, software and even fresh cut flowers to FTD affiliated florists. FTD was founded as a retailers' cooperative to help customers send flowers remotely on the same day by using florists in the FTD network who are near the intended recipient.
The Mercury Network, the electronic network used by FTD, processes about fifteen million orders annually, through about 50,000 FTD affiliates in 154 countries, of which about 20,000 are in the United States and Canada. The Mercury Network was developed by John Goeken, a telecommunications entrepreneur who co-founded MCI Communications.
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[edit] History
On August 18, 1910, fifteen American florists agreed to serve each others' out-of-town customers by exchanging orders via telegraph, and was called Florists' Telegraph Delivery. In 1914 the company adopted Mercury Man as its logo, to emphasize the speed of delivery. In 1965 it became international and took its present name.
[edit] Antitrust
FTD had obtained a near-monopoly position in its market. It has been sued several times by the United States Department of Justice to ensure it does not engage in non-competitive behavior, namely prohibiting members from affiliating with competing flowers-by-wire services. FTD entered into consent decrees with the Department of Justice after 1956, 1969, and 1990 suits,
[edit] Going public
On December 19, 1994, a precursor to the FTD Corporation, a private, for-profit company acquired FTD, which then divided FTD into two organizations: FTD Incorporated, a for profit corporation, and FTD Association, a non-profit trade association.
FTD Incorporated retained FTD's businesses, including the Mercury Network and the clearinghouse, and controlled FTD Association's rules, regulations, and bylaws. The FTD Association retained member education, advocacy and quality assurance.
In 2000, FTD Incorporated held an initial public offering of FTD.com on the NASDAQ. FTD Group was listed on the NYSE in 2005. The company is based in Downers Grove, Illinois.
In 2001, the FTD Association separated from FTD Incorporated, terminated all contracts, and, in exchange for $14 million renamed itself the Extra Touch Florist Association
Fiscal year 2006 revenues grew 6.2% to $465.1 million, compared with revenues of $437.8 million for fiscal 2005. This revenue growth was driven by an 11.6% increase in revenue in the Consumer Segment.[1]
[edit] Acquisitions
On July 31, 2006, FTD, Inc. announced its acquisition of “Interflora Holdings Limited, a UK based leading provider of floral-related products and services to consumers and retail floral locations in the UK. The acquisition, first announced on July 7th, 2006, was made for a purchase price of GBP 66 million, or approximately [US]$122 million, excluding transaction costs.” [2]
[edit] See also
[edit] External links
[edit] Sources
- ^ FTD Group, Inc. (2006-08-09). FTD Group, Inc. Reports Fourth Quarter and Fiscal Year 2006 Results. Press release. Retrieved on 2006-09-23.
- ^ FTD Group, Inc. (2006-07-31). FTD Group, Inc. Completes Purchase of Interflora Holdings Limited. Press release. Retrieved on 2006-09-23.
