Monday 6 May 2013

Facebook Makes Fortune 500 List for the First Time

Zuck



 


 


Mark Zuckerberg can put another big accomplishment on his resume.


 


Facebook cracked the Fortune 500 list on Monday for the first time, about nine years after launching and less than a year after becoming a public company. In fact, it took Facebook less time to make the list after going public than any other company in history (excluding companies that were spun off from existing companies.)


 


Google, which previously held the record, first ranked on the Fortune 500 list after 16 months of being a public company. Facebook, by comparison, was only a public company for eight months of the last fiscal year before qualifying for the list.


 


The social network ranked No. 482 on the list, up from No. 598 the year before.


 


The Fortune 500 rankings, which have been released annually since 1955, are based on total revenue for U.S. companies during the fiscal year ending Jan. 31. Facebook, which raised $16 billion from its IPO last May, has steadily ramped up revenue from advertising and reported its first $5 billion year in 2012.


 


Several other tech companies were featured on the latest Fortune 500 list, including Apple (No. 6), Hewlett Packard (15), IBM (20), Microsoft (35), Amazon (49) and Google (55). Facebook may still be far behind these companies, but who knows where it will be in a couple years?



Facebook Makes Fortune 500 List for the First Time

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