Facebook, the Biggest social Media Giant Becomes a $1 Trillion Company
June 30, 2021
On Monday, Facebook leaps into the $1 trillion territory and joins the ranks of Apple, Microsoft, Amazon, and Alphabet. For the first time, Facebook has reached that valuation after an antitrust court victory. This has helped Facebook achieve yet another milestone, making it the youngest tech company to reach this height in US.
In December last year, the Federal Trade Commission (FTC) filed antitrust lawsuits against the company alleging that Facebook has a monopoly in social media after the acquisition of Instagram and WhatsApp. But FTC failed to support its claim, therefore, the District Court dismissed its lawsuit against Facebook. This upthrusts Facebook’s market capitalization to cross the billion height and mark the new height over trillions of dollars.
Facebook is currently valued at $1.01 trillion. If compared with other tech-giant on this list, Alphabet’s current market cap sits at $1.67 trillion, Amazon at $1.74 trillion, Microsoft at $2.02 trillion, and Apple at $2.25 trillion. Facebook, founded in 2004 is the only company from the 2000s to achieve this feat so far. Even Twitter from 2006, one of Facebook’s direct competitors, is only valued at $54.5 billion.
Despite everything, Facebook is able to emerge stronger and has continued to grow its user base. Currently, Facebook has 2.80 billion active users, which is nearly half of the World’s population. And its value keeps growing as people are relying on this platform to stay connected with their friends, family, and business.