Facebook has turned into the 22nd biggest company in the world, as its value has jumped above $200bn (£124bn) for the first time.
The boundary was reached in trading on Monday with the social network's market capitalization - the total value of its shares - reaching $202.5bn when the Nasdaq closed for business. Each share was worth $77.89 - twice more than the amount demanded per share when Facebook made its troubled stock market debut in May 2012.
Analysts were quick to notice that the valuation was achieved at a faster pace than rival Google, which is now worth double Facebook's value at just over $4bn at current prices.
In comparison with Facebook, Google took more than three years to reach the milestone after its flotation in 2004, although its growth was later hindered by the effects of the financial crisis in 2008. Both companies have since been struggling for greater revenue from online advertising - with Facebook benefiting particularly from the rise in mobile devices.
Its stock rose 0.8% on Monday after an internal report highlighted progress in its video business - another advertising growth stream.
Compared to Twitter’s $1.15 revenue per user for the 3 months to June 30th, Facebook's profits were $2.21 for the same period.
The social network's strategy of buying-up businesses, such as WhatsApp, that could threaten its social network dominance has also reaped rewards for investors.
Among them, of course, is Facebook founder Mark Zuckerberg himself, whose personal wealth has shot up to $34.5bn, according to the Bloomberg Billionaires Index.
Under his leadership, Facebook is looking to grow revenues from developing countries as their access to the internet expands. It now has 100 million active users in Africa, and 80% of those were using mobile devices.
