Facebook Becomes $1 Trillion Company Just Within 17 Years
- ByStartupStory | June 29, 2021
With a 4.2 percent uptick in its share price on Monday, the highest increase in the last two months. Facebook now has a market value of over $1 trillion achieving this milestone faster as compared to any other technology firm. This rise came alongside a judge’s dismissal of two complaints against Facebook filed by the Federal Trade Commission (FTC) and state attorney generals alleging monopolistic practices. A 30 percent increase was recorded in Facebook’s share price owing to masses increased dependency on its offerings including WhatsApp and Instagram during the COVID-19 pandemic.
Only some American tech companies have been able to cross the magical 13 digit valuation threshold including Apple, Alphabet Inc., Amazon, and Microsoft. Zuckerberg co-founded the company and Facebook is the youngest company to achieve the milestone valuation just 17 years.
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