Meta Platforms, then called Facebook, became the sixth U.S. company to exceed a $1 trillion market capitalization in June 2021.
Facebook’s shares first pushed the company above the trillion-dollar threshold on June 28, 2021. The company was still officially named Facebook at the time; it changed its corporate name to Meta Platforms in October 2021.
The valuation reflected the scale of Facebook, Instagram, WhatsApp, and Messenger, as well as the company’s powerful digital advertising business. Meta’s corporate identity differs from Facebook, which remains the name of one of its social-networking products.
The milestone is sometimes confused with a $1 trillion valuation for the Facebook app alone. The figure applied to the publicly traded parent company and all of its businesses. Meta later invested heavily in virtual and augmented reality through its Reality Labs division.