Facebook Buys Oculus Rift For $2 Billion

We were hoping that this was an early April Fool’s joke, but it seems to be real! Facebook has purchased Oculus VR, the makers of the Oculus Rift for $2 million!

Oculus Rift

The deal was announced yesterday as Facebook and Oculus VR reached a deal. The deal includes 400 million in cash payouts, with the rest being Facebook shares. There are also earn-out opportunities in cash and stock if Oculus reaches certain milestones, that could add another 300 million to the deal.

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” Brendan Iribe, co-founder and CEO of Oculus VR, said. “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.”

There has already been a huge backlash from current users of the device and from the gaming community. Many people think that Facebook is going to ruin the device. The Oculus Rift Kickstarter page has been flooded with negative comments about the sale. What do you think?

Source: Oculus | News Archive

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