Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • Business
    • Politics
    • Science
    • World
    NewsShow More
    soludo
    Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
    December 14, 2022
    cbn
    Nigeria in Brief: CBN shares 9 trillion Naira to combat food inflation, others
    December 13, 2022
    atiku
    Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
    December 12, 2022
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    emefiele
    Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
    December 9, 2022
  • Politics
    • Politics Featured Section
    • Politics Story for You
    PoliticsShow More
    soludo
    Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
    December 14, 2022
    atiku
    Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
    December 12, 2022
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    emefiele
    Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
    December 9, 2022
    ex-president goodluck Jonathan's car accident
    Why I will never be Nigeria’s president again – Jonathan
    December 8, 2022
  • Business
    • Business Editor’s Pick
    • Business Featured Section
    • Business Story for You
  • SMARTKOBO
  • Entertainment
    • SportsNews
    EntertainmentShow More
    INEC
    Nigeria in Brief: INEC reveals a top secret, and other trending news today
    December 11, 2022
    troll
    Netflix and chill: 10 must-watch movies on Netflix right now
    December 10, 2022
    d'banj
    D’banj arrested, detained for allegedly stealing N-Power money
    December 7, 2022
    national-sports-festival-stephen-keshi-stadium
    Six states fight to host 2024 National Sports Festival after Delta
    December 7, 2022
    samm-okposo
    Singer, Sammie Okposo to be buried Dec 15, see burial arrangement
    December 5, 2022
  • #2023Elections
Reading: Facebook hits $1TRN valuation
Share
Notification Show More
Latest News
nigeria presidential election
Presidential Election: Nigerians face obvious choice in 2023. Will they take it?
January 16, 2023
Nigeria in Brief: Mercy Johnson reveals battle with cancer and other trending stories today
January 14, 2023
Nigeria in Brief: Lagos Blue Rail Line ready for operations, Peter Obi leads in fresh poll
December 22, 2022
cbn
CBN bows to pressure, increases weekly cash withdrawal limit to N500k
December 21, 2022
JAMB releases registration date for UTME 2023
December 21, 2022
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

Breaking NewsBusinessStartup

How Agrovat, an agricultural extension startup, is leveraging modern tools to empower underserved farmers in Nigeria

December 2, 2022
atiku-tinubu
Breaking NewsPolitics

PTF Funds: Tinubu says Atiku has no shame

November 21, 2022
gomed
HealthStartupTech

GoMed seeks Nigeria’s $2.5b pharma fortune, launches pharmacy marketplace

September 22, 2022
hackathonafrica
Breaking NewsTech

HackathonAfrica kicks off in Enugu with 20 graduates in first cohort

September 5, 2022
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

soludo
Nigeria in Brief: Soludo signs a 260billion Naira budget into law as FG denies N89trn stamp duty scam
Breaking News Business Politics December 14, 2022
cbn
Nigeria in Brief: CBN shares 9 trillion Naira to combat food inflation, others
Breaking News Business December 13, 2022
atiku
Nigeria in Brief: Atiku denies the existence of Sambisa Forest, and other trending news
Breaking News Politics December 12, 2022
INEC
Nigeria in Brief: INEC reveals a top secret, and other trending news today
Breaking News Entertainment Politics Sports December 11, 2022
emefiele
Nigeria in Brief: Reps and Senate to grill Emefiele, and other trending news in Nigeria
Breaking News Politics December 9, 2022

Most Viewed Posts

  • World cup qualifiers: See the full list of 30 players invited to represent Nigeria (1,570)
  • WAWU! Flavour marries first baby mama Sandra Okagbue (1,066)
  • BREAKING! Flutterwave shuts down Barter virtual dollar card services, to terminate all cards by July 17 (961)
  • 10 smart businesses you can start in Nigeria today with zero capital and make money immediately (Part 1) (892)
  • Oyo South senatorial primaries abandoned due to irregularities (723)

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow

© 2022 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?