Facebook Purchases Oculus VR For $2 Billion USD
March 25, 2014 7:06 PM
Facebook plans to do more than just gaming
Facebook is stepping into the virtual gaming world through a recently announced purchase of
, 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.
"This is from the DailyTech.com. It's a science website." -- Rush Limbaugh
Science & Environment
February 20, 2017, 6:37 AM
The USA’s newest weather satellite sends first photos.
January 24, 2017, 6:41 AM
Netflix took a decision to invest in original content
January 19, 2017, 7:00 AM
Amazon Airborne Fulfillment Center – Your Merchandise Drop-Shipped from the Clouds
December 29, 2016, 5:00 AM
Amazon is experimenting with a new kind of grocery stores, Amazon Go
December 8, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 AM
Most Popular Articles
OnePlus 3T – 5.5” Optic AMOLED and Dash Charging Technology
March 23, 2017, 8:45 AM
Gigabyte GA-Z170X-Gaming G1 – Intel Thunderbolt 3 Certified Motherboard
March 9, 2017, 6:25 AM
Huawei P8 Lite 2017 – Android 7 Nougat Smartphone with Octa-Core Processor
March 8, 2017, 7:03 AM
Lenovo ThinkPad T460 - Ultra-Thin and Feather-light
March 3, 2017, 6:00 AM
Nokia has ditched this camera technology in its new smartphones
March 7, 2017, 8:45 AM
Latest Blog Posts
Uber Technologies Inc Driverless Car hit by Human-driver
Mar 30, 2017, 8:00 AM
Android Creator and New Bezel-less Smartphone
Mar 29, 2017, 10:28 AM
More Apps From Google
Mar 28, 2017, 7:15 AM
Are you thinking of performance and speed? Intel claims:
Mar 25, 2017, 7:45 AM
Apple buys an automation app called Workflow. The deal was completed today and brings the app along with its developers.
Mar 23, 2017, 7:35 AM
Apple Announces new color for iPhones and iPads
Mar 22, 2017, 7:45 AM
Instagram: You Can Now Save Live Videos For Later
Mar 21, 2017, 7:49 AM
Samsung Galaxy S8 to Get New Color Scheme
Mar 20, 2017, 7:45 AM
What else to worry about?
Mar 17, 2017, 6:45 AM
Icon of the Day: Intel/ NVIDIA or Mobileye
Mar 16, 2017, 6:15 AM
JUST IN - Twitter Hijacked : High-Profile Account Accesses
Mar 15, 2017, 7:07 AM
Mar 14, 2017, 7:30 AM
News and Tips
Mar 13, 2017, 6:30 AM
iPhone 8 – May Not Get Curved Screen
Mar 11, 2017, 8:00 AM
California paves way to self-driving car tests without humans
Mar 11, 2017, 7:18 AM
Smart Machines V hackers
Mar 10, 2017, 7:00 AM
Uber Can Resume Autonomous Car Testing in California
Mar 9, 2017, 6:50 AM
Mar 8, 2017, 7:09 AM
Mar 7, 2017, 8:45 AM
World news 3-6
Mar 6, 2017, 5:40 AM
Mar 4, 2017, 7:40 AM
Mixed News of the Day
Mar 4, 2017, 6:32 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information