Ten Years Later, Here We Are

Ten years ago yesterday, the social media company founded by Mark Zuckerberg made its public trading debut on the Nasdaq. It raised $16 billion at a ~$104 billion valuation, which is still good for the largest tech IPO ever by a US company.

📉📈 Into the vault... Facebook’s IPO was derided as “The Faceplant,” after shares fell 30+% in its first year of public trading. But instead of a sophomore slump, the company's value more than doubled the second year as it accelerated its transition from a product built for PCs to a new era centered around smartphones.

From that point forward, Facebook’s stock didn’t suffer a down year – until this past one. 

• Since May 18, 2021, the company's value has fallen nearly 36% amidst a rebrand from Facebook to Meta, including a single day that wiped a record $232 billion from its market cap.

📸 The big picture: Even after this recent poor performance, Meta is still 25+ times bigger by revenue than it was in 2012 – and has over 2.3 billion more daily active users (+450%).

+For us visual learners:👇