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Facebook plans to do more than just gaming

Facebook is stepping into the virtual gaming world through a recently announced purchase of Oculus VR.

According to Business Insider, Facebook is buying Oculus VR for $2 billion USD in cash and stock. A breakdown looks more like $400 million in cash and 23.1 million shares of Facebook common stock.

Oculus VR is an Irvine, California-based startup that was founded by Palmer Luckey. The company launched a Kickstarter campaign to help fund development of their first product -- the Oculus Rift -- which is a virtual reality headset for immersive gaming. The Kickstarter campaign reached over $2.4 million in funding.

While Facebook has seen a lot of success with games like "FarmVille," the social giant said it plans to do more than just virtual gaming with the company.

"After games, we're going to make Oculus a platform for many other experiences," said Facebook CEO Mark Zuckerberg. "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 VR doesn't have a consumer version of its Oculus Rift yet, but it's available for developers at the moment. 

The Oculus Rift headset makes you feel like you're in the gaming environment, taking video games to a whole new level of feeling "real" beyond just graphics on your TV and movements with a controller. 

At the Consumer Electronics Show (CES) 2014, the Oculus Rift "Crystal Cove" prototype was named Best of CES 2014. 

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "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."

Oculus will keep its headquarters in Irvine and continue development of the Oculus Rift. The transaction with Facebook is expected to close in the second quarter of 2014.

Source: Business Insider



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ByeBye Oculus, Hello Sony Project Morpheus
By BillyBatson on 3/25/2014 9:27:04 PM , Rating: 4
This is absolutely horrible news. Andrew Scott Reisse is probably rolling in his grave, may he rest in peace. I am definitely not interested in Oculus any more there is no chance I will ever purchase it. My only hope is that Facebook runs the company into the ground and someone like Steam picks up the pieces for pennies on the dollar. Looks like I will be supporting Sony's VR initiative.




By peterrushkin on 3/25/2014 9:54:26 PM , Rating: 1
You aren't the only one.

This is the worst news since sony came out with their craptastic version.

Now we have Facebook buying this.

There goes my dreams for playing Star Citizen one day in full VR. Hell there goes my Dreams of playing it in 4K VR in a few years time.

What a sad sad sad day it is.


By sgestwicki on 3/26/2014 12:04:36 AM , Rating: 2
I am pretty sure Steam dumped the technology when they laid off a bunch of people.


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