Over the last year, Facebook's stock has jumped roughly 30 percent and the climb has added more than $65 billion (roughly Rs. 4,13,631 crores) to its market value, bringing it to more than $236 billion (roughly Rs. 15,01,273 crores), just above Walmart's $235 billion (roughly Rs. 14,96,494 crores), reported Quartz.
Although market cap leapfrogging like this is not uncommon, this one might appear ridiculous to many. Walmart has a far larger economic footprint.
By revenue, Walmart is the world's largest company with annual sales figure of $476 billion last year. Facebook clocked around $12.5 billion (roughly Rs. 79,608 crores) in revenues in the corresponding period.
Over time, markets have shifted in a way that reflects technology's growing economic importance, at least in the minds of investors.
Facebook recently showed major gains in online video advertising, gaining on industry leader YouTube. Online videos are the fastest growing category of Internet ad.
Ampere Analysis in a study said competition for video viewers has opened up a new front in the clash between the two Web giants. It predicts a new advertising "arms race" that will result in consumers being will be forced to see more ads, but also enjoy a richer range of video programming as a result.