At market close on Tuesday, social media network Facebook officially surpassed General Electric in market share. It's crazy to think about, but it's the reality we live in. Facebook, the social network created 11 years ago by Mark Zuckerberg and a few friends of his in a Harvard dorm room, is now worth more in market capitalization than GE, founded back in 1892. Tuesday, Facebook market shares hit a new high of $275 billion, jumping over GE sitting at $271 billion, reports CNBC. With its roughly 1.4 billion monthly active users, the social network looks primed to maintain that value for years to come, said Jim Luorio, managing director at TJM Institutional Services and a CNBC contributor. But the shift does not mean GE has lost relevance, said Jeff Kilburg, founder and CEO of KKM Financial and a CNBC contributor. He noted that the company shedding its financial arm and focusing on industrial segments gives it momentum moving forward.
