Naysayers heaped a lot of criticism on the social media giant Facebook when it went public in May of 2012 with an initial public offering of $38 a share. The stock fluctuated and that open the door for critics to slam the decision to go public and doubt the value of the number one social network. Now Facebook has smackdown those critics with glowing second quarter earnings and a stock that is trading north of $75 a share today.
Some are saying Facebook is worth $190 billion, which is more than Amazon at $160 billion. Others put Facebook’s value closer to $200 billion — putting it in line to pass IBM as ” the fourth-largest U.S.-listed tech company, ” according to Reuters. Market watchers are pointing to Facebook’s recent success in mobile advertising as the reason for its surge in profitability.