Facebook Purchases Oculus VR For $2 Billion USD
March 25, 2014 7:06 PM
comment(s) - last by
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 article is over a month old, voting and posting comments is disabled
RE: The worst...
3/26/2014 2:12:13 PM
"Now, admittedly who knows what this will turn into but it does give me some hope that he did directly comment on gaming and that will be the first thing they focus on; to continue the work they are already doing. "
Don't buy into the PR hype and nonsense. Since when is Facebook a "gaming" company? Hint: they're not. If id Software or Valve bought them, I'd have some confidence in it, but Facebook?? No chance in hell.
Not to mention that start-ups always
wither and die when subjected to the bureaucracy and soul-crushing weight of a large corporation.
I'm not rightly sure what to make of this acquisition, or the Boston Dynamics one. Neither has anything to do with Facebook, and neither has customers that are in Facebook's demographic. I don't see anything positive coming out of this.
RE: The worst...
3/26/2014 4:36:11 PM
Simply replace the word "gaming" with "forced advertisement viewing" in Mark's post above, and I think we can all see where this is going. I'm a little surprised that Google didn't think of this first.
RE: The worst...
3/28/2014 11:18:16 AM
Ads in a VR world will be inherently different from ads we see now, or they run the risk of interrupting the VR experience. I presume neither fb nor Oculus are willing to let that happen, so, if anything, expect product placement ads in social and gaming worlds.
A generic can of soda on a table gets skinned to display a CocaCola ad, for example. That's far less intrusive than banners on fb walls, and I'd expect it to only show up in situations where it won't ruin the user's experience.
"There's no chance that the iPhone is going to get any significant market share. No chance." -- Microsoft CEO Steve Ballmer
FCC Orders Advertisers to Cut Out That Racket, Turn Down Commercials
August 29, 2014, 12:49 PM
Dropbox Bows to Competitive Pressure, Provides 1TB of Storage for $10/Month
August 27, 2014, 11:17 AM
Amazon Acquires Twitch for $970 Million
August 25, 2014, 4:37 PM
Facebook Adds Satire Tags to Its Auto-Generated "Related News" Posts
August 18, 2014, 10:43 AM
Comcast, TWC Pull Dinner Gift for FCC Commissioner... Sort Of
August 15, 2014, 1:10 PM
Comcast Accused of Wooing FCC Commissioner w/ $110K Dinner
August 13, 2014, 8:20 PM
Most Popular Articles
Microsoft's Surface 2 Tablet Family Gets a $100 Price Cut
August 25, 2014, 1:16 AM
Owner of "Decepticon" Maserati Ordered to Appear in Court This Thursday
August 25, 2014, 7:55 AM
LG Posts Teaser Video of Its “Round Face” G Watch R Smartwatch, Set for IFA Lauch
August 24, 2014, 2:49 PM
Windows 9: "Upgrade Now" Button Coming for Enterprise Updates, ARM Preview in H1 2015
August 26, 2014, 8:00 PM
Second ZMapp-Treated Patient Dies of Ebola, Supplies Run Out
August 25, 2014, 7:03 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information