So Facebook just bought out Oculus for $2 billion


The giant social networking site has just acquired Oculus VR, the maker of the Rift VR headset, for $2 billion in cash and stocks. The money to acquire is $400 million, with the rest going towards shares of Facebook stock (23.1 million shares).

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

This is good news for Oculus, since it needs traction as competitor Sony has been planning to release its own VR headset.

But why is Facebook buying out a company that makes VR headsets for video games? Isn’t Facebook mainly a social site? Zuckerberg says that it will focus on gaming first, then it will expand to other areas afterwards.

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

“This is really a new communication platform,” he continued. “By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.”

The company will remain in Irvine, CA, and it has already received over 75,000 dev kits orders for the Rift. The full acquisition is expected to be completed in the second quarter of the year.

Via TechCrunch

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John Nguyen
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