Facebook Joins the Trillion Dollar Club

The market value of Facebook exceeded one trillion dollars for the first time, Monday, 17 years after the site was launched by students at Harvard University.

Facebook’s market value hit a record high after a federal judge dismissed an antitrust complaint from the Federal Trade Commission, sending the company’s shares up nearly five percent, Yahoo Finance reported.

This increase came despite the company facing regulatory scrutiny and lawsuits, as it witnessed massive growth during the past year as well.

During the Corona pandemic, more people are turning to Facebook’s services to communicate and shop during the pandemic.

The market value of Facebook was 104 billion dollars when the social site made its first step on the Nasdaq electronic exchange in 2012.

With this, Facebook joined the club that includes a few other companies that have reached a market value of one trillion dollars, in the past few years, such as Apple, Microsoft, Amazon, and Alphabet (the parent company of Google).

More

Show your support if you like our work.

Author

News Room
News Room
The Eastern Herald’s Editorial Board validates, writes, and publishes the stories under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Editor's Picks

Trending Stories

Nestlé turmoil deepens as affair scandal sinks investor confidence

Zurich —Nestlé, the world’s largest food company, has been...

Gun violence and domestic terrorism in the US – Experts call for safety

The Minneapolis Catholic school shooting has thrust gun violence...

Nevada’s two-day shutdown shows how fragile state cyber defenses still are

The Nevada cyberattack, a Nevada ransomware attack detected on...

Discover more from The Eastern Herald

Subscribe now to keep reading and get access to the full archive.

Continue reading