Facebook’s value to top $200B

By Staff Writer

Facebook may eventually be the biggest corporation in the world

(Photo: Harland Quarrington/Wikimedia Commons)
(Photo: Harland Quarrington/Wikimedia Commons)

(INTELLIHUB) — Mark Zuckerberg, Facebook’s Chief Executive Officer has been dubbed the 13th richest person in the entire world, says reports.

In fact Bloomberg just reported:

Facebook Inc. (FB)’s market value exceeded $200 billion to put it among the world’s biggest corporations, as investors bet on the company to capitalize on the future of mobile advertising.

Facebook shares rose 0.8 percent to $77.89 at the close in New York, valuing the company at $201.6 billion, according to data compiled by Bloomberg. That made it the 22nd-largest company in the world, behind Verizon Communications Inc. and ahead of Toyota Motor Corp.

The stock has jumped 9.3 percent since July 23, compared with a 0.7 percent increase in the Standard & Poor’s 500 Index, after Facebook reported a 61 percent increase in second-quarter sales to $2.91 billion. Mobile promotions accounted for 62 percent of ad sales, up from 59 percent in the prior period.