USA-ALSHARQIYA June 29: The market value of Facebook exceeded one trillion dollars for the first time, Monday, 17 years after the site was launched by students at Harvard University.
Facebook's market value hit a record high after a federal judge dismissed an antitrust complaint from the Federal Trade Commission, sending the company's shares up nearly 5%, Axios reported.
This increase came despite the company facing regulatory scrutiny and lawsuits, as it witnessed massive growth during the past year as well.
During the Corona pandemic, more people are turning to Facebook's services to communicate and shop during the pandemic.
The market value of Facebook was 104 billion dollars, when the social site made its first step on the Nasdaq electronic exchange in 2012.
With this, Facebook joined the club that includes a few other companies that have reached a market value of one trillion dollars, in the past few years, such as Apple, Microsoft, Amazon and Alphabet (the parent company of Google).