Henry Wells and William Fargo, two prominent businessmen in the mid-19th century, founded American Express on March 18th, 1850. The company started as an express mail delivery service, transporting packages and letters across the United States.
Before founding American Express, Wells and Fargo had already established a successful business in the delivery industry. In 1844, they founded the Wells Fargo & Company, which specialized in transporting goods and mail across the country. However, their partnership was dissolved in 1850 due to a disagreement with other investors, and Wells and Fargo decided to start a new company, which would eventually become American Express.
Initially, American Express focused on delivering mail and packages between New York and Buffalo, NY, using a network of stagecoaches and steamboats. Over time, the company expanded its operations to other parts of the country and began offering financial services, including money orders, traveler’s checks, and credit cards.
One of the key factors in American Express’s success was its commitment to customer service. The company was known for its attention to detail and reliability, and it quickly became a trusted brand among businesses and individuals. American Express also introduced several innovative products and services that helped it stay ahead of the competition.
Today, American Express is one of the world’s largest financial services companies, offering a range of products and services, including credit cards, travel services, and insurance. The company continues to be a leader in innovation and customer service, building on the legacy of its founders, Henry Wells and William Fargo.
