Why Facebook acquired Oculus VR for $2 billion?

Facebook buys Oculus VR

In a surprise move Facebook owner Mark Zuckerberg has acquired virtual reality technology startup Oculus VR founded by Palmer Luckey, for a heavy $2 billion. The deal includes $400 million in cash, 23.1 million shares of Facebook common stock worth about $1.6 billion and $300 million in cash and stock based incentives. The maker of augmented reality Oculus Rift headset is second acquisition by Facebook in a very short time after their WhatsApp procurement. Oculus VR will operate independently within Facebook and work on its current project, as well as projects that fall in line with Facebook’s long term goals.

Apparently the move to buy Oculus VR comes as a part of the plan to make the virtual reality experience for people in social networking more immersive. In a press note by Mark Zuckerberg it is clearly evident that Facebook will integrate the use of augmented reality in one way or the other to enhance the social gathering experience of its user.

Mark 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.
This is really a new communication platform. 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.

From the above statement we can conclude that Oculus Rift virtual reality headset is going to integrate the goodness of augmented reality into your social networking experience somehow. Maybe have virtual conversation in a virtual setting with your friends who are sitting in different corners of the globe. Making the whole experience feel as if you are having a real face to face conversation.

But on the other end, game development community is not that happy with this development as they fear Facebook is going to spoil Oculus Rift’s core essence, which is gaming in a virtual reality environment.

Minecraft creator Markus Persson ever extended to the lengths of saying that he has cancelled the deal for creating Minecraft version for Oculus Rift headset as he perceives Facebook to be a very unstable platform and after this acquisition things are not going to get better for Oculus VR.

Source: Facebook/Notch



Hailing from the northern region of India, Gaurav has a profound liking for everything upbeat in the cloud and vision to acquaint readers with the latest technology news. He likes to observe nature, write thought provoking quotes, travel places, drive cars and play video games when things get too boring. And his food for thought comes from ambient music scores he listens to.

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