The haul of furs impressed King Charles and led Prince Rupert and his fellow investors to create the "Company of Adventurers of England Trading into Hudsons Bay", also known as the Hudson's Bay Company, on 2 May 1670. The Hudson's Bay Company was given monopoly over the area of land that would become known as Rupert's Land. From 1670 to 1675, Groseilliers and Radisson were employed by the Hudson's Bay Company, voyaging into Hudson Bay to establish trading posts, forts and exploring the area. Their activities were watched with interest by the French whose economy suffered from the arrival of English fur traders.