Facebook Inc (NASDAQ:FB) is, for all reasons, the biggest name in social media for past several years and the tech-giant has added another feather to its hat. Facebook Inc (NASDAQ:FB) has surpassed both International Business Machines Corp (NYSE:IBM) and The Coca-Cola Company (NYSE:KO) in terms of market capitalization.
Facebook Inc (NASDAQ:FB) has become the fastest company to reach $200 billion mark leaving behind several decade old business including International Business Machines Corp (NYSE:IBM), The Coca-Cola Company (KO), Intel Corporation (NASDAQ:INTC), and Oracle Corporation (NYSE:ORCL). The company has even outpaced the top technology firm Google Inc (NASDAQ:GOOGL) in reaching the $200 billion mark. The Coca-Cola Company (NYSE:KO) and International Business Machines Corp (IBM) have market caps of $185 billion and $190 billion, respectively.
Facebook Inc (NASDAQ:FB) has become the 22nd largest company of the world replacing Toyota Motor Corp (ADR) (NYSE:TM). According to Facebook, mobile ads are the reasons why it could achieve this mark within such a short period. Further, the company is planning to invest in its mobile ad platform and gain more investors in future. The CEO, Mark Zuckerberg, said that mobile ads are among the top priority and the company will focus on them.
One of the important factors in the success of this social-giant is its timely updates and acquisition of any new competition. Facebook Inc (NASDAQ:FB) has spent over $21.7 billion in acquisitions since 2007 and WhatsApp Inc is the latest acquisition for which the company paid $18 billion in cash and stock. Earlier, Facebook Inc (NASDAQ:FB) acquired Instagram in April 2012 for $1 billion with $300 million paid in cash and remaining in stocks.
At a finer glance, mobile advertising revenue increased 570% YoY with $3.15 billion for the fiscal year 2013. Facebook reported mobile advertising revenue of $1.66 billion for the second quarter 2014.
This article has been written by Prakash Pandey and edited by Serkan Unal.