First Whatsapp and now Oculus VR – Facebook Buying Companies

Facebook buying Oculus VR for $2 billion-1

Oculus VR, a young company founded by Palmer Luckey and the creator of the Oculus Rift virtual reality headset is being planned to be bought by Facebook. This disclosure was made by Facebook through a blog post. Facebook buying Oculus VR for $2 billion-2

The deal comprises of $400 million in cash and 23.1 million shares of Facebook stock. The reason of this purchase was also unveiled by CEO of Facebook, Mark Zuckerberg who said: “Oculus’s mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences. Immersive gaming will be the first, and Oculus already has big plans here that won’t be changing and we hope to accelerate.”

Facebook buying Oculus VR for $2 billion-3

While saying that Facebook will “focus on helping Oculus build out their product and develop partnerships to support more games,” Mark Zuckerberg made it quite clear that Facebook will boost the product into new zone after Oculus figures out its gaming spirits.  “We’re going to make Oculus a platform for many other experiences. 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.” Zuckerberg’s plans are far beyond the gaming area that made Oculus a Kickstarter success. According to Mark Zuckerberg Oculus is “a new communication platform.”

Facebook buying Oculus VR for $2 billion-5

Oculus VR just announced its latest version of the Oculus Rift development kit at GDC in March 2014 and has been progressively moving towards a consumer product and now, Facebook is only lending a hand to drive that mission along. “Facebook understands the potential for VR, Mark and his team share our vision for virtual reality’s potential to transform the way we learn, share, play, and communicate. Facebook is a company that believes that anything is possible with the right group of people, and we couldn’t agree more,” the Oculus team said while declaring the deal in its own blog post.

Film Q and A Virtual Reality Documentary

Where the technology will be in the future is the question now as laid out by Zuckerberg. “By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.” As per Zuckerberg , future is coming sooner than anticipated and he “can’t wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us.”

Facebook buying Oculus VR for $2 billion-7

Palmer Luckey, the inventor of Oculus, said in a posting on Reddit, “In the end, I kept coming back to a question we always ask ourselves every day at Oculus: what’s best for the future of virtual reality? Partnering with Mark and the Facebook team is a unique and powerful opportunity. The partnership accelerates our vision, allows us to execute on some of our most creative ideas and take risks that were otherwise impossible. Most importantly, it means a better Oculus Rift with fewer compromises even faster than we anticipated.” Individually, the president of Sony Worldwide Studios, Shuhei Yoshida  said he did not foresee the deal, even though it was within just a week when the company proclaimed its VR headset program known as Project Morpheus. He said, “Wow, I did not see this coming, congratulations! ”

Games Game Developers Conference

“For the record, I am coding right now, just like I was last week. I expect the FB deal will avoid several embarrassing scaling crisis for VR,” says John Carmack, Video game tycoon, who became Oculus’ CTO this past August.

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An engineer by profession who likes writing about more or less anything that's going on.

First Whatsapp and now Oculus VR – Facebook Buying Companies

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