TechBookyBusiness
No Result
View All Result
Thursday, July 7, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Market

Facebook Hit The $1 Trillion Market Cap Milestone Yesterday

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
June 29, 2021
in Market, Stocks
Share on FacebookShare on Twitter

Facebook hit the $1 trillion in market capitalization milestone yesterday after its stock went up in late-day trading. This can be partly attributed to the favourable legal ruling that acquitted the tech giant from an antitrust complaint the Federal Trade Commission (FTC) held against it.

On Monday was Facebook’s first time of closing above $1 trillion in market capitalization. Hitting the $1 trillion milestone yesterday automatically made Facebook the fifth U.S. company to do so. Facebook, therefore, joins Apple, Microsoft, Amazon, and  Google-parent company Alphabet, in the league of companies with at least $1 trillion in market capitalization.

Facebook’s shares closed up 4.2% at $355.64 after a favorable legal ruling that dismissed an antitrust complaint brought by the U.S. Federal Trade Commission and a coalition of state attorneys general.

The company’s revenue comes primarily from personalized ads that are shown across all its platforms like Facebook and Instagram. As part of its expansive/diversifying efforts, the company also has a budding hardware business. Its hardware business has come up with products such as its Oculus virtual reality headset and smart eyewear, Portal video-calling device, etc., most of which are set to be released before the year comes to a conclusion.

Facebook had its Initial Public Offering (IPO) in May 2012 and debuted with an impressive $104 billion market capitalization.

The company has also recorded some downturns. For example, in 2018, the company had a 19 percent drop after sharing what it described as disappointing revenue and user figures for Q2 of that year. The huge drop was a result of quite a menagerie of scandals and challenges it faced. They included data leaks, fake news, and, unforgettably, the Cambridge Analytica scandal — in which a data firm got access to the data of 87 million Facebook users and used it to send target ads for Donald Trump in the 2016 presidential election.

The company also recently had a privacy policy brouhaha with the Indian government but has thankfully been able to get to the bottom of it.

Facebook has bounced back strong from all these challenges and has continued to provide users across all its platforms with safety and an indelible user experience. The company’s user base and average revenue per user has been growing steadily and its stock price is now up more than 90% since July 27, 2018; the year it faced the most challenges.

Facebook also recently announced the acquisition of BigBox VR.

Read also: Microsoft Hit $2 Trillion Market Value In Intraday Trading

Total
0
Shares
Share 1
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Microsoft Hit $2 Trillion Market Value In Intraday Trading Yesterday
    Microsoft Hit $2 Trillion Market Value In Intraday Trading…
  • Facebook No Longer Among Top Five Most Valuable US Companies After Its Market Capitalization Falls
    Facebook No Longer Among Top Five Most Valuable US Companies…
  • Apple May Hit A $3  Trillion Market Cap This Year On Strong iPhone 12 Demand
    Apple May Hit A $3 Trillion Market Cap This Year On Strong…
  • Apple Hits $3 Trillion In Market Cap; The First US Company To Ever Reach This Milestone
    Apple Hits $3 Trillion In Market Cap; The First US Company…
  • Alphabet Proved To Be The Top-performing Big Tech Stock This Year, Here's Why
    Alphabet Proved To Be The Top-performing Big Tech Stock This…
  • It Was A Notable Year For Facebook But The Company Did Lose Some Important Talents, Here's Everything We Know
    It Was A Notable Year For Facebook But The Company Did Lose…
  • Tesla Hits $1 Trillion Market Capitalization Following Hertz's Order Of 100,000 Electric Vehicles
    Tesla Hits $1 Trillion Market Capitalization Following…
  • Following Antitrust Fines, Google Says It Offers More Than $10 Billion In Consumer Benefits In South Korea
    Following Antitrust Fines, Google Says It Offers More Than…
Tags: facebookfacebook trillionmarket capitalisationsocial mediastock market
Previous Post

Jiji Acquires Cars45 For An Undisclosed Amount, Plans Expansion

Next Post

Language Learning Edtech Platform Duolingo Has Filed To Go Public

Next Post
Language Learning Edtech Platform Duolingo Has Filed To Go Public

Language Learning Edtech Platform Duolingo Has Filed To Go Public

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce earnings earnings season elon musk facebook fintech Funding gadget google government india internet Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$20,422.001.16%
  • ethereumEthereum(ETH)$1,187.443.76%
  • tetherTether(USDT)$1.000.19%
  • usd-coinUSD Coin(USDC)$1.000.13%
  • binancecoinBNB(BNB)$235.78-0.81%
  • Binance USDBinance USD(BUSD)$1.00-0.09%
  • rippleXRP(XRP)$0.3299552.20%
  • cardanoCardano(ADA)$0.4635071.28%
  • SolanaSolana(SOL)$36.912.00%
  • dogecoinDogecoin(DOGE)$0.0692932.49%
  • polkadotPolkadot(DOT)$6.990.84%
  • Shiba InuShiba Inu(SHIB)$0.0000111.44%
  • AvalancheAvalanche(AVAX)$19.224.72%
  • matic-networkPolygon(MATIC)$0.530.54%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....