On the web and the internet, business is non-stop. Things are operational 24 hours a day, 7 days a week.
Between feeds and embedded trackers, to WhatsApp and Instagram, and beyond, Facebook is the social media giant that rules them all. And this time, the tech giant has hit $1 trillion in market capitalization for the first time.
This happened when the company's stock spiked in late-day trading, with its value closed up 4.2% at $355.64, following 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 FTC and others wanted to unwind Facebook's Instagram and WhatsApp acquisitions. Facebook won when a federal judge stated that the FTC and others didn't offer enough evidence that Facebook is a monopolistic company.
Following the case, Facebook as the company, becomes the fifth U.S. company to hit the milestone.
The social media giant joins the $1 trillion club with the likes of Apple, Microsoft, Amazon and Google's parent company Alphabet.
Facebook the company has numerous products.
They include Facebook, the social media, along with Messenger, as well as Instagram, WhatsApp, and Oculus.
On the list of U.S. tech companies that have passed the $1 trillion valuation mark, Facebook is the only one founded after the year 2000, making it the youngest company to reach the milestone. That is as long Google that was founded in 1998 is considered, and not its parent company Alphabet, which was created in 2015.
The company earns most of its revenue from showing personalized advertisements that are shown to users of the Facebook and Instagram social networks. The remaining sources of income come from its hardware business, most notably, from its Oculus virtual-reality headsets.
Facebook has had a long history of privacy issues, most notably, the Cambridge Analytica scandal. The company also suffered colossal loss a few times following its IPO.
But still, and despite the scandals, Facebook was able to bounce back.
The company controls three of the most popular internet services, and with billions of users and counting, Facebook is still the king of the hill.
