Facebook buys Oculus VR for $2bn

Written by David Hing

March 26, 2014 // 9:03 a.m.

Tags: #augmented-reality #facebook #oculus-vr #virtual-reality

Social networking giant Facebook has bought virtual reality pioneer Oculus VR for for $2bn.

Facebook chief executive Mark Zuckerberg said that the company’s general direction with regards to gaming will remain unchanged by the acquisition but that he sees the virtual reality platform as a future method of global communication.

Oculus will operate independently within Facebook to meet its goals with regards to immersive gaming with Facebook only chipping in to throw its weight behind striking deals with more developers and publishers.

‘Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences,’ said Zuckerberg. ’After games, 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.’

Facebook intends to bring the virtual and augmented reality offered by the Oculus Rift into the lives of billions of people.

’Virtual reality was once the dream of science fiction. But the internet was also once a dream, and so were computers and smartphones. The future is coming and we have a chance to build it together,’ added Zuckerberg.

In the last 18 months, the Oculus team has taken more than 75,000 orders for development kits and interest from developers has been high. In a statement from the Oculus VR team, they assure everyone that the Facebook and Oculus teams are very much on the same page with regards to the future and potential for the virtual reality platform.

In reaction to the news that Facebook had acquired Oculus VR, Minecraft developer Markus ‘Notch’ Persson and Oculus VR investor called a halt to plans to bring the open-world cube-rearranging game to the Oculus Rift, citing his uncertainty over Facebook’s motives and their historic instability as a platform as reasons.

’I did not chip in ten grand to seed a first investment round to build value for a Facebook acquisition,’[i] said Persson on his blog. [i]’I definitely want to be a part of VR, but I will not work with Facebook.’

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