It Only Took 17 Years, Facebook Is Now Worth 1 Trillion US Dollars

Ilsutrasi- Facebook (FotoImage Credit: Alex Haney / Unsplash)

JAKARTA - For the first time in Facebook's history, it finally joined the ranks of companies worth more than a trillion dollars at the close of the market today. The company's market capitalization occupies 1.008 trillion United States (US) dollars.

In just 17 years, Facebook managed to enter the list of US technology companies that have passed the value of 1 trillion US dollars. And Facebook is the only company founded in the 2000s by Mark Zuckerberg. Others with similar values like Google, mostly born before the 2000s.

Quoted from Yahoo Finance, Tuesday, June 29, the company's stock has also gained 30 percent this year amid increasing public reliance on the Facebook app to stay in touch with friends and businesses during the COVID-19 pandemic, leading to steady user growth and strong demand. for digital advertising.

Nearly three years after Apple Inc. becoming the first publicly traded US company to reach the $1 trillion mark, there are now four other US tech companies including Microsoft Corp, Amazon.com Inc and Google parent Alphabet Inc.

Facebook is not just a social media, it is also a big company that has kids in the same fields as Messenger, Instagram, WhatsApp and Oculus.

The news of Facebook's achievements came at the same time as the Federal Trade Commission (FTC) case was dismissed regarding the acquisition of Instagram and WhatsApp, after a federal judge found the FTC did not provide sufficient evidence that the company had a monopoly.

The FTC accused Facebook of violating federal antitrust laws by buying potential competitors in the social media marketplace. The government agency is seeking to forego Facebook's acquisition of Instagram and WhatsApp.

However, the judge recently dismissed the complaint case and stated the FTC did not offer sufficient evidence for Facebook's claim to use monopoly power.

However, Facebook's stock continued to soar despite the lawsuit. The company has just made history by reaching a value of 1 trillion US dollars in market capitalization for the first time.