Facebook acquires Oculus VR in $2B deal
Facebook announced that it has purchased virtual reality headset maker Oculus VR. The acquisition is valued at $2 billion in combined cash and shares, according to VentureBeat.
Facebook founder Mark Zuckerberg said: "Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow. Oculus has the chance to create the most social platform ever and change the way we work, play, and communicate."
Oculus VR cofounder Brendan Iribe remarked "We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world." He continues, "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."
Zuckerberg made a post on his facebook page to explain teh purchase further commenting its mission is to expand more than producing mobile apps- where they had been focusing development previously.
Oculus was first known two years back when it secured $2.5 million in a crowdfunding campaign via Kickstarter opposed to the initial goal of $250,000. In 2013, the startup received a lot of venture funding. Andreessen Horowitz was a lead investor in the firm's $75-million funding round, Re/code detailed.
The Oculus Rift headset maker is currently based in Irvine, California. Although it took off as a gaming-focused startup, it has already expressed interest in exploring the product's use in other sectors. This is what Facebook is interested in, the report remarked.
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