Facebook worth more than $150bn

Facebook is officially worth more than $150bn after shares rocketed 15%.

This is bigger than the entire GDP of Hungary - $125.5bn.

The social networking site is one of very few companies to have reached the watershed valuation before they turned 10 years old.

A strong set of results on Wednesday were as a result of Facebook’s push on monetising mobile users.

Revenues jumped 55% to $7.87bn in 2013, with profits reaching $1.5bn after growing sevenfold in the last quarter.

While these might look like dizzying figures for a company that was started in a Harvard dorm room, founder Mark Zuckerberg still has a long way to go to match Google. At the same point at the end of its first 10 years, the search company was worth $218.5bn. It’s now phenomenally worth more than $380bn.

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