Social media giant Facebook is now valued at above $1 trillion, according to CNBC.
- The valuation, reached on Monday, allows Facebook to join Apple, Amazon, Microsoft, and Alphabet as the US companies to have hit the $1 trillion milestone.
- The $1 trillion market cap happens in less than 10 years since the social media company made a public debut, with only $104 billion capitalization.
- The market cap has been aided by a 4.2% stock jump after a successful legal ruling, dismissing antitrust allegations by the Federal Trade Commission.
- Facebook’s growth has been driven mainly by personalized advertisements, with its hardware business for products like Porto video-calling also remaining key.
Facebook’s stock is now up at least 90% since July 27, 2018 on growing user base amid several scandals that have affected the company.
FB: NASDAQ is up +0.12% on premarket.