Facebook, a popular social media platform led by Mark Zuckerberg, set a new record on the stock market on Monday. For the first time, the company's market cap crossed $100 million. The company's stock rose 4.2 per cent, reaching $355.64. At the same time, Facebook has become the 5th company to set this record. Earlier, Apple, Microsoft, Amazon and Google had crossed these numbers.
The number of users is continuously increasing based on Facebook's user base and average revenue. The stock of the company has increased by more than 90% since 27th July, 2018. The hardware business of the company is also doing well. Facebook portals are creating video calling devices, oculus virtual reality headsets and smart glasses that are slated to release this year. The investor's confidence in the company has increased due to rapid changes in technology and keeping itself firmly established in the market. Due to which its stock is increasing.
All facebook revenuecomes from personalized ads that are shown to users on Facebook and Instagram. Facebook's IPO came in May 2012. At that time, the company made its market debut with a market capital of $104 billion. Now it has crossed 1 trillion dollars. However, the company's revenue declined by 19 per cent in 2018. At that time, Facebook was accused of involvement in data leaks, fake news, and especially the Cambridge Analytica scam.
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