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Facebook hits 13-digit figures, valued at $1 trillion

 

The net worth of Facebook hits a higher range of value of $1 trillion with their stock worth $355.64 per share.

Although, the sudden rise in equity stocks was due to the dismissal of the cases filed by the Federal Trade Commission and a group of state attorneys. The complaints which was filed in United States was dismissed in U.S court.

The dismissal of the cases worked in the favour of Facebook as their stocks increase to 4.2% in price.

The presiding judge in the case, U.S District Judge, James Boasberg alleged the reports given held no solid proofs to justify their claims.

The group of attorneys complained, Facebook acquired WhatsApp and Instagram as a strategic business plan to subsidize any arising competition, but Boasberg responded, "social networking services are free to use and the exact metres and bounds of what even constitutes a social networking services which features company's mobile app or website are included in that definition."

Hence, Facebook has risen as one of the top five company's to hit the 13-digits figures also reported as the youngest to achieve such accomplishments.

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