Facebook is worth more than Amazon. Following yesterday’s earnings report, Facebook shares hit an all-time high in after-hours trading at $75. Price has been very stable this morning as well, confirming yesterday’s pop. Shares opened at $75.96 a share, then set a new record at $76.74. Now, shares are trading at $75.13.In other words, Facebook’s market capitalization is now around $190 billion, which is above Amazon’s market capitalization of $165 billion.
As the cream of Europe’s entrepreneurs filed into the beautifully lit room at a European tech conference late in 2012, picking up their champagne as they went, a VC leaned over to Welsey Chan of Google Ventures and asked:“Why on earth are you guys sponsoring these drinks? You don’t have any investments in Europe, do you?”. Turning to his interrogator, Chan replied: “Not yet.” Thus it was that rumours started circulating around what Google Ventures might be planning in Europe.