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Milestone! Facebook market value soars past $200bn

Social media giant – Facebook’s market value has soared past $200 billion (N32 trillion) for the first time – making it the 22nd biggest company in the world.

The feat was achieved on Monday (September 8) with the company’s stock closing at $77.6  – taking its market capitalization to $200.26 billion.

According to reports, future prospects for Facebook are bright as the firm is yet to commercialize recent acquisitions such as photo-sharing site, Instagram, and mobile messaging service, WhatsApp. The company also announced on Monday (september 8) that it now has 100 million users in Africa, with 80 percent of them using mobile devices.

Encomium

Written by Encomium

A media, tech and events company.

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