Facebook Inc's market value tops USD 200 billion

The company, now the 22nd largest in the world, ranks just behind Verizon Communications Inc and ahead of Toyota Motor Corp on the list of world's biggest corporations.

IANS

Facebook CEO Mark Zuckerberg (Photo: Reuters)

Facebook Inc is now the 22nd largest company in the world after the social network's market value crossed the $200-billion mark.

The company's stock closed at $77.6 Monday - a new all-time high - giving it a market capitalisation of $200.26 billion.

The company now ranks just behind Verizon Communications Inc and ahead of Toyota Motor Corp on the list of world's biggest corporations.

MUST READ: Facebook's next billion to come from India, says Sheryl Sandberg

According to reports, future prospects for the Mark Zuckerberg-led Facebook are bright because the firm is yet to monetise acquisitions like photo-sharing site Instagram and mobile messaging service WhatsApp.

It is also some time away from placing a significant number of pricey video ads in users' news feeds.

Facebook has also purchased virtual reality headset maker Oculus VR Inc for nearly $2 billion.

The company on Monday announced that it now has 100 million users in Africa.

Published on: Sep 9, 2014 10:08 AM IST