Home / News type stuff / Facebook Buys Oculus, Virtual Reality Gaming Startup, For $2 Billion

Facebook Buys Oculus, Virtual Reality Gaming Startup, For $2 Billion

Facebook isn’t just buying into mobile messaging — it’s also going for gaming.

In a Tuesday afternoon shocker, Facebook announced it is buying hot virtual reality gaming company Oculus VR for $2 billion. That includes $400 million in cash and 23.1 million shares of Facebook stock. There’s also an additional $300 million potential earn-out in cash and stock based on “the achievement of certain milestones.”

Fresh off Facebook’s $19 billion purchase of WhatsApp, CEO Mark Zuckerberg is showing the world that he isn’t afraid to use his company’s skyrocketing share price to get an edge in Silicon Valley. Facebook stock is up over 150% in the last year and both the WhatsApp and Oculus deals took advantage of that with large stock-cash splits.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Zuckerberg said in a statement. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

OculusRift1

Oculus’ virtual reality headset Rift set the gaming world on fire with its potential, even as it still hasn’t made it to the mass market yet. The second Oculus Rift development kit is available to pre-order for $350. It is unclear exactly how Zuckerberg sees virtual reality fitting in with social media, or if gaming is even his primary focus with this purchase.

Zuckerberg said Oculus “is really a new communication platform.”

“After games, we’re going to make Oculus a platform for many other experiences,” he wrote. “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.”

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” Oculus CEO Brendan Iribe said in a statement. “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

 

About Joshua Curci

Joshua Curci
I'm a very open person and a very honest person. You can ask me any question and I will answer it honestly but don't ask a question you don't want to know the answer to. My full name is Joshua Richard Curci and I am currently 22 years old. I love video games and movies and I keep up to date with all the new movies and video games. I also play basketball and I follow the NBA, NFL and AFL. I also love swimming and surfing and try to do both as much as I can. I love making effects tests which you can see on my portfolio page I do most of the videos for fun and not for a client but I only have limited hardware so my ideas don't come out like I envision them. I'm always looking for more projects and ideas ether voluntary or payed work but as I have already stated I have very limited hardware. If you need any info or want to contact me for anything then you can follow me bellow or contact me on my contact page.

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