The largest social network ever created started trading today worth $306 billion by market cap. It closed the day at $292 billion.
Let’s put that into context: Facebook, a company designed to sell ads against the every whim of its 1.55 billion users, is now nearly half the size (about 44 percent) of Apple, the most valuable company in existence (Apple’s market cap today: ~$684 billion).
Or, you can think of Facebook as roughly: 4 to 5 Ubers (rumor has it), 9 Yahoos (at ~$33B market cap), 12 Airbnbs, 15 Twitters (at ~$20B market cap), 107 Slacks, approximately 300 newly-minted unicorns, or more than half (59 percent) of an Alphabet (Alphabet/Google’s market cap today: ~$514B). Now let’s visualize that.
Facebook’s stock has performed incredibly well (broadly speaking) ever since the company proved it could monetize its mobile users a few years back. If Facebook hadn’t figured that out, the company certainly wouldn’t have hit this milestone today — indeed, nearly half of Facebook’s users only access the service on mobile (that is, no desktop usage whatsoever).
This is the second (somewhat arbitrary round number) financial milestone Facebook’s hit in the past two weeks; on October 23, the company’s stock price crossed $100 per share, valuing the company at $280 billion.
Updated at 1:11 p.m. PT with Facebook’s closing market cap of $292 billion.
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