Tech

Facebook Just Became the World's Youngest Trillion Dollar Company

It comes just after the federal court's dismissal of two antitrust complaints.
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It's official: Facebook is now one of the few companies that are valued at over a trillion dollars. According to Yahoo Finance, the company's market cap is sitting at $1.008 trillion.

In doing so, Facebook just became the youngest company to reach that valuation. Founded in 2004 by Mark Zuckerberg, Facebook shares the milestone with its divisions including Messenger, Instagram, WhatsApp, and Oculus.

The Cali tech giant's shares hit $355.64 on Monday following the dismissal of two antitrust lawsuits by the Federal Trade Commission and state attorneys general alleging anti-competitive practices. The 4.2 percent rise was its largest in two months.

In a statement, Facebook said: "We are pleased that today's decisions recognize the defects in the government complaints filed against Facebook. We compete fairly every day to earn people's time and attention and will continue to deliver great products for the people and businesses that use our services."

Apple became the first publicly traded U.S. company to become a trillion-dollar company in 2018. Along with Apple, Facebook joins the ranks of Amazon and Google.

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Paolo Chua
Paolo Chua is the Associate Style Editor of Esquire Philippines.
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