New York, Yet another milestone for Facebook. In a recent shocking revelation, we recently learned that Facebook’s net worth is larger than Walmart now. All it took was three years since Facebook became public to stampede the retail market giant.
According to Quartz reports, Facebook has seen tremendous jump in the net worth over the last year. Facebook’s stock has jumped roughly 30 percent and as result the company added more than $65 billion to its market value, bringing it to more than $236 billion, just above Walmart’s $235 billion.
The most ridiculous scenario is that Walmart is by far one of the largest economic foot prints in the world. Walmart registered annual sales figure of $476 billion only last year. On the otherhand Facebook clocked around $12.5 billion in revenues in the corresponding period. Analysts opine that this indicates investors interest in technology than in other products.
