Facebook, the company now known as Meta Platforms, was the first social-media company to reach a US$1 trillion market capitalization. Its shares crossed the milestone in July 2021 after a federal judge dismissed an antitrust case brought by the US Federal Trade Commission.
Facebook had grown from a college networking site launched in 2004 into a global group that also owned Instagram and WhatsApp. Those acquisitions helped expand its advertising audience and supported the valuation milestone.
The corporate name changed from Facebook to Meta Platforms in October 2021 to emphasize virtual and augmented reality ambitions. Historical reports still call the company Facebook when describing the July 2021 event because the rebranding happened later.