Facebook is the youngest company to receive a $1 trillion valuation

After some favorable rulings, Facebook has joined the few other companies to close above $1 trillion in market capitalization.

Published Fri, Jul 2 2021 4:34 AM CDT   |   Updated Sat, Jul 31 2021 1:43 PM CDT

Facebook has reached another milestone in its history as a social media platform, as the company has closed above $1 trillion in market capitalization.

Facebook is the youngest company to receive a $1 trillion valuation 01 | TweakTown.com

Facebook is now the fifth company in the United States to reach the milestone and will now join other companies such as Microsoft, Apple, Amazon, and Google's parent company Alphabet in the small circle. The increase in Facebook's value came after an antitrust complaint proposed by the US Federal Trade Commission was dismissed. This dismissal by the court caused Facebook's share price to close up 4.2% at $355.64.

In May 2012, Facebook debuted its IPO with a market cap of $104 billion, and in the following years, that number grew before it took a 19% drop in 2018 after a number of non-favorable news stories were published - Cambridge Analytica being the main one to note. Since July 27, 2018, Facebook has managed to increase its user base, and ultimately the amount of revenue it makes as a company, as its stock price has risen 90% since that July of 2018.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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