Facebook Scales New Heights, Market Value Crosses $200-billion Mark

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

As per the media reports, Facebook's stock closed at $77.6 on Monday - an all-time high - giving it a market capitalisation of $200.26 billion.

On the list of world's biggest corporations, the world largest social network now ranks just behind Verizon Communications Inc., and is ahead of Toyota Motor Corp.

Future prospects for the Mark Zuckerberg-led Facebook looks bright as the company is yet to monetise acquisitions like photo-sharing site Instagram and mobile messaging service WhatsApp, according to the reports. In addition to this, the firm is also some time away from placing a significant number of expensive video ads in users' news feeds.

In a bid to enter the fast-growing wearable devices arena, Facebook has also purchased virtual reality headset maker Oculus VR Inc for nearly $2 billion.
(Image: Indiatimes)