There is no stopping Facebook Inc (NASDAQ:FB) it seems. The company’s stock is up a whopping 77.2% for the year, based on yesterday’s closing price and is trading near its all time high. But that’s not the exciting part; the exciting part is that the company for the first time in its history has crossed market valuation of $200 billion. Cory Johnson discussed the rise of Facebook Inc (NASDAQ:FB) on Bloomberg recently.
Johnson revealed that with its valuation crossing $200 billion, Facebook Inc (NASDAQ:FB) is now the 22nd most valuable company in the world and, in terms of market cap, the company has replaced Toyota Motor Corp (ADR)(NYSE:TM). According to Johnson, Facebook Inc (NASDAQ:FB)’s mobile ad revenues, which are up 62% year on year, is the driving factor behind company’s meteoric rise.
As of June 30, 2014, Philippe Laffont‘s Coatue Management owns over 5.8 million shares in Facebook Inc (NASDAQ:FB).