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Facebook is now worth $1 trillion

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Social Media platform Facebook, stock market value is now worth $1 trillion after an antitrust court victory against US regulators.

The legal actions had accused Facebook of stifling competition.

A federal court dismissed two lawsuits, from the Federal Trade Commission (FTC) and a coalition of states, sending Facebook shares up 4.2%.

The Federal Trade Commission was suing to force Facebook to divest itself of two of its largest acquisitions, Instagram and WhatsApp.

Both services are considered crucial to the company’s future, as its core Facebook platform is poised to see its slowest yearly growth ever in 2021.

Judge James Boasberg, US District Court of Washington, DC, dismissed the case, saying the FTC “failed to plead enough facts to plausibly establish a necessary element… that Facebook has monopoly power in the market for personal social networking services,”

leona Mandengu

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