Wednesday, June 30, 2021

Facebook sets speed record in reaching $1 trillion value

Facebook Inc. wasted no time in becoming the fifth U.S. company ever to surpass $1 trillion of market value. The social-media company reached the milestone Monday, just over nine years after going public, according to data compiled by Bloomberg. Facebook broke a U.S. record set by Google’s owner, Alphabet Inc., which needed more than 15 years to reach the milestone. Those time periods compare with more than 22 years for Inc., 33 years for Microsoft Corp. and 37 years for Apple Inc., the first company to reach the trillion-dollar mark.

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