Facebook’s market value closed above the $250 billion-mark on Monday for the first time since the social networking giant went public in May 2012.
Facebook (FB), which saw its shares climb by 2.4% to $90.10 apiece on Monday, had the shortest trek of any company to a $250 billion market cap at just over three years. According to Bloomberg, the previous record-holder for the fastest rise to $250 billion was Google (GOOG), which took roughly eight years to hit the mark. (Google now sports a market value of more than $375 billion.)
For Facebook, the milestone comes less than a month after the company helmed by cofounder Mark Zuckerberg knocked Walmart (WMT) off the list of the 10 largest companies by market value. The social networking company’s stock is up more than 15% since the start of the year, thanks to the continued rapid growth of its ad sales business and expanding profit margins. Its shares have gained more than 35% over the past 12 months.
Facebook made its market debut with a splash in 2012, closing its first day of trading with a market value of more than $104 billion. But, the company’s shares fell sharply in subsequent months before stabilizing and beginning the eventual climb to $250 billion.
Earlier this year, Coins2Day‘s Erin Griffith wrote about how Facebook managed to overcome the company’s “disastrous IPO.”
