Facebook was the first publicly traded company founded in the 21st century to enter the $1 trillion market-cap club.
Facebook, now known as Meta Platforms, joined the trillion-dollar group in June 2021. The company was founded in 2004, making it a relatively young public corporation compared with Apple, Microsoft, and Amazon when it reached the milestone.
Facebook’s platform grew from a university social-networking project into a global advertising business. The company also owned Instagram and WhatsApp, which expanded its reach across social networking, messaging, photos, and video.
Facebook became a public company in 2012. In 2021, it changed its corporate name to Meta Platforms to emphasize a strategic focus on the metaverse, although Facebook remained the name of its flagship social network. The trillion-dollar valuation reflected investor estimates of the value of its advertising ecosystem and future businesses.