Facebook Joins The $1 Trillion Club Despite Lawsuits

Creator: George Frey | Credit: Bloomberg

Copyright: © 2020 Bloomberg Finance LP

Facebook has joined the ranks of companies valued over a trillion dollars as of today’s market close. The company’s market cap is sitting at $1.008 trillion according to Yahoo Finance, putting it over the mark for the first time in its history.

Some of the most notable of Facebook’s divisions are the Facebook site itself, along with Messenger, as well as Instagram, WhatsApp, and Oculus. On the list of US tech companies that have passed the $1 trillion valuation mark, Facebook is the only one founded in the 2000s, making it the newest — as long as you’re counting from the date that Google was started (which was in 1998), instead of Alphabet (which was created 2015).

• Apple Inc., $2.26 trillion: Shares were up just 2% in 2020 but it remains the most valuable company in the world. Its shares have gone up nearly 50% in the past 12 months.
• Microsoft Corp., $2.03 trillion: Shares jumped by 21% this year, up by about 36% in the past 12 months.
• Amazon.com Inc., $1.73 trillion: Shares are up by just 5.5% halfway through the year. Its value has gone up by about 28% in the past year.
• Alphabet Inc., $1.67 trillion: Shares have jumped by 39% this year. Its 74% jump in value over the past year is the biggest among the U.S. trillion-dollar club companies.

The fresh valuation represents a vote of confidence in Facebook’s ability to withstand regulatory assaults across the world

The Menlo Park social media giant's stock jumped more than 4% on Monday after a judge tossed an antitrust complaint brought by the U.S. Federal Trade Commission and a coalition of state attorneys general. Its shares fell by about 1% on Tuesday, dropping its market cap to about $998 billion.

Facebook's stock (Nasdaq:FB) has soared by about 30% so far in 2020 and is up by about 57% in the past 12 months.

Here’s a brief history of Facebook with significant milestones that helped it reach this mark:

Credit to: TheNextweb

• Mark Zuckerberg & co. launch TheFacebook on Harvard campus on February 4, 2004.
• Next year, it expands to more universities and changes its name to Facebook.
• In September 2006, it opens up accepting users older than 13 from any country with a valid email ID.
• In 2007, it first time starts making money by running ads. Today, it’s one of the largest players in the digital ad industry along with Google.
• Until now, Facebook has had several talks for acquisition with Yahoo, Microsoft, and Viacom with the value of the social network measured up to $1 billion.
• Later, Microsoft announces an ad partnership with Facebook, and also invests $240 million at an estimated valuation of $15 billion.
• Facebook acquires FriendFeed in 2009, which “inspired” the invention of the Like button. This inspired feature shit goes way back.
• Goldman invests $450 million in the company in 2011, making Zuckerberg & co. worth $50 billion.
• In the same year, Facebook Messenger goes mobile with iOS and Android apps.
• In 2012, Facebook goes public with a valuation of $104 billion. The same year it reaches the mark of 1 billion users across the globe.
• Just before the IPO, the company acquires Instagram for $1 billion.
• In 2014, the firm acquires Oculus, a maker of VR headsets, for $2 billion.
• The same year, the social network completes its biggest acquisition for $19 billion: WhatsApp.
• In 2015, the company launches potentially money-making products such as Instant articles and live streaming. The latter was made available to everyone in 2017.
• In 2016, Facebook and AdBlocker get into a tussle over displaying ads on the blue site.
• In 2017, the company reaches a market valuation of $500 billion. Launches Watch video streaming service to take on YouTube.
• While Facebook breaches the 2 billion active user mark in 2017, it loses users in the US and Canada the next year.
• In 2018, Facebook Dating is announced, and it’s formally launched in 2019.
• The same year, the company announces Portal — a hardware device for video chatting.
• In 2020, the social network taps the shopping market with a new product.
• The next year, Facebook says it wants to explore audio market, with products ranging from real-time conversation rooms, podcasts, and voice clips.
• In June 2021, Facebook turns WhatsApp into a shopping hub.
• June 2021, Facebook joins the $1 Trillion club, regardless of all the lawsuits they are dealing with.

Mili Ponce

Former Computer Engineer, Tech, EdTech and eCommerce Entrepreneur, Keynote Speaker on Digital Marketing and Entrepreneurship, Social Media Strategist, eCommerce Business Mentor, Trainer, Writer, Blogger, Mother, Daughter, Dreamer.

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