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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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RE: The worst...
By Samus on 3/25/2014 11:50:04 PM , Rating: 4
Ditto, seriously bad news. I'd rather a porn studio bought them.

RE: The worst...
By AntDX316 on 3/26/2014 5:55:59 AM , Rating: 2
yes facebook yes yes yes yes yes!!!!!!!

doing what you can't do in real life you can do on the PC : )

3D classrooms/seminars is going to be sooooooooooooooooooooooooooooo epic and free

RE: The worst...
By AntDX316 on 3/26/2014 5:58:29 AM , Rating: 2
and facebook should buy 3DS so we can watch 3D HD w/o glasses too : )

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RE: The worst...
By paydirt on 3/26/2014 7:10:14 AM , Rating: 2
Please tell me that DT wrote this story for April Fools and made a mistake in scheduling the article!!! F (_) CK NO! Say it aint so!

RE: The worst...
By MrBlastman on 3/26/2014 11:22:51 AM , Rating: 2
It was all over the financial websites and newswires last night. It isn't fake, this is happening. :(

"There is a single light of science, and to brighten it anywhere is to brighten it everywhere." -- Isaac Asimov

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