Facebook: The technology company Facebook reached a record market value on Monday (28). The company founded and run by Mark Zuckerberg surpassed the $1 trillion mark, thanks to a 4% valuation in the company’s shares.
The growth happened because of a court decision that favored the social network. A US judge dismissed federal and state charges against Facebook that framed the company for anti-competitive market practices, attempted monopoly and acquisition of rivals to weaken competitors.
The complaints challenged the acquisitions of Instagram in 2012 and WhatsApp in 2014 and even called for Facebook to be forced to fragment departments or resell services. According to the responsible judge, the case is “legally insufficient”, but not all of the defendant’s arguments and guarantees were considered valid. Recast complaints can be mounted by the Federal Trade Commission (FTC) in the US starting this week and become a new process.
With the move, Facebook joins other tech companies that have achieved that figure, including Google and Amazon. Microsoft and Apple, however, are already at $2 trillion.