Facebook becomes the youngest trillion-dollar company
- Tram Ho
By the time the US stock market closed yesterday, Facebook had officially reached a market capitalization of over one trillion dollars. Specifically, Facebook’s market capitalization has reached $ 1.008 trillion, according to Yahoo Finance. This is the first time Facebook has achieved this milestone.
Facebook’s core businesses are still social networks Facebook and Instagram, besides applications such as Messenger and WhatsApp, and hardware development including Oculus.
In the list of US technology companies that have reached a market capitalization of over a trillion dollars, Facebook is the only company founded in the 2000s. It is the youngest company to reach this milestone, if you count Google was established in 1998 (instead of the parent company Alphabet’s founding date in 2015).
Facebook hit the one-trillion-dollar milestone thanks to soaring stock prices, after the FTC investigation into Facebook’s acquisition of Instagram and WhatsApp was dropped. The FTC was unable to produce enough evidence to prove Facebook had monopolistic behavior.
Source : Genk