Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • Business
    • Politics
    • Science
    • World
    NewsShow More
    zenith bank
    Zenith Bank to pay N15.70bn dividend to shareholders
    September 12, 2023
    unity bank
    Unity Bank’s gross earnings rise to N27.5bn in H1
    September 10, 2023
    ban on Nigerian passports by seychelles
    A ban on Nigerian passports by Seychelles won’t hurt Nigerians alone
    July 9, 2023
    Naira devaluation
    EXPLAINED: How the Naira devaluation will affect you
    June 18, 2023
    fidelity
    Fidelity: A bank on a mission
    June 18, 2023
  • Politics
    • Politics Featured Section
    • Politics Story for You
    PoliticsShow More
    ban on Nigerian passports by seychelles
    A ban on Nigerian passports by Seychelles won’t hurt Nigerians alone
    July 9, 2023
    democracy day
    Democracy Day: Our democracy deeply troubled – Peter Obi
    June 12, 2023
    Tinubu's decision to sack emefiele
    Why Tinubu’s decision to sack Emefiele was spot on
    June 11, 2023
    Tinubu's decision to sack emefiele
    Tinubu’s abrupt announcement of fuel subsidy removal was unpresidential, insensitive
    June 5, 2023
    grv
    PHOTOS: LP Gov. candidate, GRV, dad visit Oba of Lagos
    March 16, 2023
  • Business
    • Business Editor’s Pick
    • Business Featured Section
    • Business Story for You
  • SMARTKOBO
  • Entertainment
    • SportsNews
    EntertainmentShow More
    diego moreira
    Diego Moreira: 4 things you need to know about Portugal international who just completed move to Chelsea
    July 1, 2023
    Bolanle Ninalowo
    EXTRACTION 2: Between Bolanle Ninalowo & Netflix, who lied? 
    June 20, 2023
    extraction 2
    Extraction 2 better than Extraction 1 but with few spoilers
    June 18, 2023
    Bolanle Ninalowo
    Extraction 2: Nollywood bad boy Bolanle Ninalowo features in Netflix action thriller
    June 12, 2023
    burna boy's performance at the champions league final
    What Burna Boy’s performance at the Champions League final means for African music
    June 11, 2023
  • #2023Elections
Reading: Facebook hits $1TRN valuation
Share
Notification Show More
Latest News
iphone 15
iPhone 15: 5 things you should know
September 12, 2023
zenith bank
Zenith Bank to pay N15.70bn dividend to shareholders
September 12, 2023
unity bank
Unity Bank’s gross earnings rise to N27.5bn in H1
September 10, 2023
military intervention in niger
Military intervention in Niger by ECOWAS is such a terribly bad idea
August 5, 2023
ban on Nigerian passports by seychelles
A ban on Nigerian passports by Seychelles won’t hurt Nigerians alone
July 9, 2023
Aa
Aa
Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • Business
    • Politics
    • Science
    • World
  • Politics
    • Politics Featured Section
    • Politics Story for You
  • Business
    • Business Editor’s Pick
    • Business Featured Section
    • Business Story for You
  • SMARTKOBO
  • Entertainment
    • SportsNews
  • #2023Elections
Have an existing account? Sign In
Follow US
  • Home
  • News
  • Politics
  • Business
  • SMARTKOBO
  • Entertainment
  • #2023Elections
© 2022 Nigeria Today News. All Rights Reserved.
Breaking News Nigeria, Latest Nigerian News > Tech > Facebook hits $1TRN valuation
Tech

Facebook hits $1TRN valuation

Kehinde Sallah
Kehinde Sallah June 29, 2021
Updated 2021/06/29 at 1:58 PM
Share
Facebook
SHARE

Facebook becomes fifth US company to hit $1 trillion

Social media giant, Facebook has hit $1 trillion market capitalisation following a dismissal of two antitrust lawsuits against the company due to lack of evidence.

Facebook’s stock closed higher on Monday at 4.2 percent at $355.64 per share with a valuation of $1.008 trillion making it the 5th US company to reach the milestone after Microsoft, Amazon, Apple, and Alphabet.

The rise came after a United States court dismissed complaints by the Federal Trade Commission and a group of state attorneys generals against the social networking company claiming it is exercising monopoly after the purchase of Whatsapp and Instagram.

READ ALSO: Facebook bans former U.S President Donald Trump for 2 years

- Advertisement -

In the ruling of the case, US District Judge James Boasberg in Washington dismissed the claim, as he explained that there was no proof to support their claim.

In a separate case, 46 state attorneys general formed a coalition to question Facebook’s purchase of WhatsApp and Instagram, claiming that the acquisition was a tactic to hinder competition from upcoming social-media rivals.

Dismissing the case, Boasberg said that social networking services are “free to use, and the exact metes and bounds of what even constitutes a (social networking) service, which features of a company’s mobile app or website are included in that definition.”

Reacting to the development, Facebook in a statement said “We are pleased that today’s decisions recognize the defects in the government complaints filed against Facebook.”

- Advertisement -

“We compete fairly everyday to earn people’s time and attention and will continue to deliver great products for the people and businesses that use our services”

TAGGED: Facebook valuation, nigeria today, nigeria today news
Kehinde Sallah June 29, 2021
Share this Article
Facebook TwitterEmail Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You Might Also Like

iphone 15
Breaking NewsGadget

iPhone 15: 5 things you should know

September 12, 2023
threads app
AppsBreaking News

Why Threads app poses real threat to Musk’s Twitter

July 9, 2023
multichoice
Breaking NewsTech

Multichoice bets on digital payment as pay TV struggles

June 3, 2023
collate
AppsBreaking NewsTech

Nigerian tech leaders launch Collate, independent live-result viewing platform to curb fraud

March 16, 2023
nigeria today news logo
Nigeria Today News logo

Subscribe to our newsletter

Please wait...
Want to be notified when our article is published? Enter your email address and name below to be the first to know.

Most Recent News

zenith bank
Zenith Bank to pay N15.70bn dividend to shareholders
Breaking News Business September 12, 2023
unity bank
Unity Bank’s gross earnings rise to N27.5bn in H1
Breaking News Business September 10, 2023
ban on Nigerian passports by seychelles
A ban on Nigerian passports by Seychelles won’t hurt Nigerians alone
Breaking News Business Politics July 9, 2023
Naira devaluation
EXPLAINED: How the Naira devaluation will affect you
Breaking News Business June 18, 2023
fidelity
Fidelity: A bank on a mission
Breaking News Business Business Editor's Pick June 18, 2023

Most Viewed Posts

  • World cup qualifiers: See the full list of 30 players invited to represent Nigeria (2,755)
  • WAWU! Flavour marries first baby mama Sandra Okagbue (1,605)
  • 10 smart businesses you can start in Nigeria today with zero capital and make money immediately (Part 1) (1,423)
  • How angry youths attacked Buhari’s helicopter in Kano – [VIDEO] (1,413)
  • BREAKING! Flutterwave shuts down Barter virtual dollar card services, to terminate all cards by July 17 (1,274)

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow

© 2023 Nigeria Today News. All Rights Reserved.

  • About
  • Privacy & Policy
  • Terms
  • Contact
Please wait...

Subscribe to our Nigeria Today News

Want to be notified when our article is published? Enter your email address below to be the first to know.
SUBSCRIBE

Removed from reading list

Undo
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Register Lost your password?