Oculus Rift

Facebook buys Oculus VR for $2 Bn

Facebook has surprisingly decided to make another big acquisition this year which is Oculus VR, of the Oculus Rift VR gaming headset fame, for 2 Billion USD. The terms of the deal include $400 million in cash and 23.1 million shares of Facebook common stock. Oculus VR gained momentum in the last couple of years all thanks to its ‘revolutionary ‘ Oculus Rift project which raised over $2 million in crowd funding at Kickstarter in 2012 and further venture funding of $91 million in 2013. Although the Oculus team was never committed to bringing a consumer version of its VR headset to the market, more than 75,000 developers had already ordered developer kits for the technology  and the early prototypes also look amazing. Mark Zuckerberg posteded this news yesterday on his Facebook account. He is excited to acquire Oculus VR and will help Oculus to build the Rift gaming headset,which the gaming community highly anticipates, and develop partnerships with various companies to support more games. But Oculus will not just stop at “Immersive Gaming”. Under Facebook’s leadership, the company will help you communicate with far away people just by wearing a set of goggles. For example, imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.

“Oculus’s mission is to enable you to experience the impossible.”

For Zuckerberg, it’s all about the future. If mobile is the current computing platform, vision and virtual reality could be platforms of the future. Zuckerberg described buying Oculus as “a longterm bet on the future of computing.” He sees Oculus’s current focus around games and entertainment as just the beginning.

“Oculus has the potential to be the most social platform ever,”

“Oculus has the potential to be the most social platform ever,” he said. “Imagine not just sharing moments with your friends online but entire experiences. Oculus VR will continue operating independently within Facebook and remain headquartered at Irvine. Oculus Rift With Facebook, Oculus now has a parent company with immense resources and a CEO dedicated to helping accelerate its visions for computing of the future. Source: Mark Zuckerberg, Oculus VR


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Shaminder Pal Singh

I am a student by day and tech blogger by night. I try to bring to the public the latest and greatest news from the tech world!

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