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The Fortune 500 list, released annually by Fortune publication, ranks U.S. companies by their yearly profits. This serves to offer investors with crucial data about financial gains and losses made by corporations during a year, along with inform business about their efficiency relative to various other business giants. Many of the list is included popular corporations such as Wal-Mart (# 1), Exxon Mobile (# 2), and Apple (# 6).
Facebook’s entry onto the listing came as a shock to some, as the business’s plan to produce income has been a point of debate within technician and financial neighborhoods since Facebook’s initial public offering in February of 2012. Facebook individuals do not spend for the social networks services the company provides and the advertisements that run on the website are subtle. This caused lots of to think that Facebook would fail as a publicly traded business. The figures, however, have actually proven critics wrong: according to Fortune, Facebook produced $53 million in revenues over the previous year, vanquishing long-time Fortune 500 bastions such as Charles Schwabb (# 488) and Yahoo (# 494).
Facebook also gets a nod for having the youngest CEO of other Fortune 500 business on the list this year. UNITED STATE Today reports that only two CEOs on this year’s list are under 40: Mark Zuckerberg, Facebook’s founder and CEO, and Marissa Mayer, CEO of Yahoo. At just 28, Zuckerberg is the more youthful of the 2 by a long shot. It’s probably not a coincidence that both are CEOs of tech business, which often target a younger market than various others kinds of corporations.
Does it shock you to see Facebook on this year’s Fortune 500 listing?