Facebook Buys Oculus VR for $2 Billion- The Reasons
Facebook Buys Oculus VR for $2 Billion- The Reasons
Zuckerberg acquires the virtual reality company with high hopes for the technology
Facebook as a social network is equally valued and criticized. It’s true that no company other than Facebook has connected us together the way that we have been connected in the past decade but many criticize the social network it actually isolates people rather than brings them together. Logging into Facebook account and scrolling through the News Feed is not the same as talking and laughing with a friend in person.
Facebook envisions a world where it could make you feel like you’re right next to the people you love, no matter how far away they are, you feel as if you are hanging out with your friends or loved ones rather than staring at their photos and videos online.
To fulfill that vision, the company announced on Tuesday that it had entered into a $2 billion deal to buy Oculus VR, the maker of Rift virtual reality headset. Commonly associated with science fiction, Virtual reality technologies make you feel that you are physically present in a digital world.
Facebook announced Tuesday that it acquired Oculus VR, the company behind the Oculus Rift gaming headset in a cash and stock deal valued at $2 billion.
With the purchase of Oculus VR, Facebook is hoping that the technology will help eventually turn social networking into an immersive, 3-D experience.
Facebook is paying $400 million in cash and about $1.6 billion in stock for Oculus. An additional $300 million earnout will be paid in cash and stock if depending on Oculus’s performance. Facebook announced its surprise purchase via a blog post.
CEO Mark Zuckerberg revealed Facebook's reasons for the deal. "Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences.”
"Oculus has the potential to be the most social platform ever and change the way we work, play and communicate,"
Zuckerberg acquires the virtual reality company with high hopes for the technology
Facebook as a social network is equally valued and criticized. It’s true that no company other than Facebook has connected us together the way that we have been connected in the past decade but many criticize the social network it actually isolates people rather than brings them together. Logging into Facebook account and scrolling through the News Feed is not the same as talking and laughing with a friend in person.
Facebook envisions a world where it could make you feel like you’re right next to the people you love, no matter how far away they are, you feel as if you are hanging out with your friends or loved ones rather than staring at their photos and videos online.
To fulfill that vision, the company announced on Tuesday that it had entered into a $2 billion deal to buy Oculus VR, the maker of Rift virtual reality headset. Commonly associated with science fiction, Virtual reality technologies make you feel that you are physically present in a digital world.
Facebook announced Tuesday that it acquired Oculus VR, the company behind the Oculus Rift gaming headset in a cash and stock deal valued at $2 billion.
With the purchase of Oculus VR, Facebook is hoping that the technology will help eventually turn social networking into an immersive, 3-D experience.
Facebook is paying $400 million in cash and about $1.6 billion in stock for Oculus. An additional $300 million earnout will be paid in cash and stock if depending on Oculus’s performance. Facebook announced its surprise purchase via a blog post.
CEO Mark Zuckerberg revealed Facebook's reasons for the deal. "Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences.”
"Oculus has the potential to be the most social platform ever and change the way we work, play and communicate,"