Facebook reaches $1 trillion valuation faster than any other company

[midian182]

Why it matters: No stranger to breaking records, Facebook has just achieved another: the social media giant's market cap has exceeded $1 trillion for the first time, reaching the milestone faster than any other company in history.

Yesterday's decision by US District Judge James Boasberg to grant Facebook's request to dismiss two major antitrust lawsuits boosted the company's shares by over 4%, increasing its market cap to more than $1 trillion for the first time.

In crossing the $1 trillion mark, Facebook joins fellow tech giants Apple, Microsoft, Amazon and Alphabet in a very exclusive club. It also has the distinction of getting there faster than any other firm, taking just 17 years from when Mark Zuckerberg co-founded the company at Harvard in 2004; that's counting Google's 1998 starting date, rather than Alphabet's creation in 2015. At the time of Facebook's IPO in May 2012, it was worth $104 billion.

Facebook share price from the time of its IPO

Facebook still has some way to go before reaching the $2 trillion+ valuations of Microsoft and Apple. The former last week became only the second US company to pass that figure. It took Microsoft 33 years from its IPO to reach its first $1 trillion valuation in 2019, but hitting $2 trillion took around just two years.

As with virtually every tech company, the pandemic has boosted Facebook's shares, up 30% this year, as the public increase their reliance on its suite of apps for communicating, socializing, and working remotely.

In the antitrust complaint against Facebook brought by the Federal Trade Commission (FTC) and 48 state attorneys general, the FTC requested Facebook unwind prior acquisitions, including Instagram and WhatsApp, and restrict any future anticompetitive behavior.

The Judge ruled that the government failed to provide enough evidence that Facebook was a monopoly. As noted by Bloomberg, it's likely that the FTC will refile an amended case within 30 days, meaning that the $1 trillion valuation could be short-lived.

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https://www.techspot.com/news/90235-facebook-reaches-1-trillion-valuation-faster-than-any.html

 

[duckofdeath]

How to get stinking rich: Sell out humanity and make each and everyone think they, in particular, is smarter than Facebook.

 

[QuantumPhysics]

A dark day indeed

 

[JKnight]

I am surprised it reached this value even after all the privacy issues.

 

[BadThad]

SAD! A company that makes no widgets, just bits, and shows bias and poor judgement daily. FB is one of the reasons society is failing.

 

[VitalyT]

Facebook is a global living proof that humanity is utterly selfish, it values money over everything else, and that it is only heading toward self-destruction.

 

[punctualturn]

Amazing how we are talking about trillions like if they were pennies.

If we humans were better to each other, imagine how much good we can do with one trillion dollars.

But sadly, not the case.

On facebook, simply amazing how much they can produce from a "free" service.

 

[Lozzy]

Facebook and Twitter and the likes can just Foxtrot Oscar. Humanity would be far, far better off without them.

 

[NicktheWVAHick]

How much of FB success is based on international versus domestic users. Also, how much is really FB versus Instagram? I don’t know anyone in the US who uses FB anymore but ALOT of people use Instagram.

 

[Aceseven]

The comments here crack me up, so much hate on facebook, you all should turn that onto the rest of the public, they're the ones who constantly hear about fb's shenanigans(and all the other companies etc etc) yet never stop using it.

at this point I wonder when those who actually give a d#mn will turn on the masses who consistently pick the worst of given choices?

 

[Markoni35]

Fiat company worth billions in fiat money. All virtual. Just a bunch of electrons. Our society is really crap, when an overinflated balloon can reach this much publicity. It's funny that if a few major stock holders start selling the stocks, the value of FB can drop like a stone in just a few days. That's the problem with fake value.

First solution to curing the society: Shut down banks, investment funds and OUTLAW short-selling of stocks. You can bet that something will succeed, but you can't bet that it will fail, without even having those stocks. Shooting brokers would also be an option to consider, but for some reason it's illegal in most of countries.

 

[Danny101]

Because people can't help giving it all of their worth.

 

[Angga B]

Investors surely recognized the ability of FB in shaping the society through psychological programming. Years of learning human behavior, in throng of millions, globally, surely pays.

Congratulations to us. We are merely consumers. Proud ones.

 

[JamesBlond]

I am surprised it reached this value even after all the privacy issues.

Makes you think, who is paying for the data its selling and if the tax man is, which ***** is paying them with the tax payers funds rather than building up the country and getting it back to a strong economy, facebook is one of the biggest problem the world faces and needs to get rid of, facebook needs to be destroyed... go Gab.com simple solution

 

[orbital]

Facebook still has some way to go before reaching the $2 trillion+ valuations of Microsoft and Apple. The former last week became only the second US company to pass that figure. It took Microsoft 33 years from its IPO to reach its first $1 trillion valuation in 2019, but hitting $2 trillion took around just two years.

Difference is Microsoft and especially Apple relied on a tangible and truly physical essence of a product while Facebook and the likes of Google, Twitter and the other subsystems and secondary products they own are all virtual, SaaS and PaaS solely intended at increasing the initial design effect. Both Apple and Microsoft fought for their users and provided innovation and know-how to the world while Facebook, Alphabet and Amazon - simple and consecutively advanced social engineering. Facebook's evaluation is not hollow, yes it is a fake balloon where hundreds of millions may go up and down in seconds, but its influence to governments and private corporations/wealthy people is mildly put paramount. Google knew this from the very beginning. It was designed to support every single basis, stage and (sub)system of current daily human personal or work existence on the planet (search, e-mail communication, calendar, VoIP, social media, operating system APIs pulling the strings of anything depending on it (all), maps, traffic, authorization (fingerprinting), location with precise geofencing, again social engineering and censoring/influencing/choosing/hiding what to show). Microsoft reached this stage with Windows 10 that was anything but an engineered OS from bottom to top designed to collect, send, and collate personalized user data that mattered million times more than low-value Windows license fees. Plus control of user networking where every piece of port, data or even browser history is logged straight to their servers. Windows 11 takes it up to the next stage... And those above realized they are stronger together so they don'T compete, they complement each other.

Why is Bezos so rich, is it because of its (global) successful retail business? Not at all, it isn't even to the slightest extent. It is for AWS, EC2 and the likes and because it runs entire governments on its infrastructure. And their agencies. And contractors. And subcontractors. And their PaaS's and SaaS's and everything above them. It is a state above all states.

Facebook was never a start-up created in a Harvard room on a laptop. It's been a massive project result of the efforts of thousands of (government and top planet's richest people) best international scientists, psychologists, psychiatrists, web development and software engineers and what not. It is a mind control machine that uses (personal) ego in relation to social acknowledgement, stereotypes and profiling so ego on its own can be used as an instrument for pre-planned behavior/programming. With little or no external direction. As simple as that. This is why Facebook is worth billions with a trend for even more billions and an Apple's or Microsoft's or anyone else's physical product is worth nearly nothing... This is why everyone still late on the line go all D.A.T.A. Where sun and moon intercept and will so as far as we do not go back to the stone age again.