Facebook Buys Virtual Reality Start Up Oculus for $2bn

2014 is looking like being the year of Virtually Reality in gaming following the news last week at the Games Developers Conference (GDC) that Sony was working on its own Virtual Reality headset for the PS4 to rival the already well know kick starter project Oculus Rift.

Well this week the Oculus has taken back the Virtual Reality limelight after Facebook CEO and founder Mark Zuckerberg announced that Facebook would be buying Oculus. The deal is worth $2bn which is broken down as $400m in cash and 23.1m in Facebook shares. There’s an additional $300m on top of this should Oculus hit its goals.

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

Oculus CEO Brendan Iribe added: “We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world.

“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.”

With the financial power of Facebook behind it, this will take an already firmly establish kick starter project into a whole different level. With both this announcement and Sony’ reveal, it will be interesting to see if Microsoft jumps on the virtual reality train.

Don’t know what Oculus Rift is…then watch this video.


Source: MCV

Reporter: Soulfinger

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