Facebook Buys Oculus Rift For $US2 Billion

Facebook Buys Oculus Rift For $US2 Billion

Facebook has just announced that it's buying Oculus Rift for $US2 billion. Seriously.

"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," Facebook founder and CEO Mark Zuckerberg says. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

Oculus are equally chuffed. "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 says in a PR release. "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."

The deal is made up of around $US400 million in cash payouts, with the rest being made up of Facebook shares. It's not a done deal yet; it's expected to be finalised in Q2 2014.

UPDATE - Here's a full statement from Mark Zuckerberg

I'm excited to announce that we've agreed to acquire Oculus VR, the leader in virtual reality technology.
Our mission is to make the world more open and connected. For the past few years, this has mostly meant building mobile apps that help you share with the people you care about. We have a lot more to do on mobile, but at this point we feel we're in a position where we can start focusing on what platforms will come next to enable even more useful, entertaining and personal experiences.
This is where Oculus comes in. They build virtual reality technology, like the Oculus Rift headset. When you put it on, you enter a completely immersive computer-generated environment, like a game or a movie scene or a place far away. The incredible thing about the technology is that you feel like you're actually present in another place with other people. People who try it say it's different from anything they've ever experienced in their lives.
Oculus's mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences.
Immersive gaming will be the first, and Oculus already has big plans here that won't be changing and we hope to accelerate. The Rift is highly anticipated by the gaming community, and there's a lot of interest from developers in building for this platform. We're going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.
But this is just the start. 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.
These are just some of the potential uses. By working with developers and partners across the industry, together we can build many more. One day, we believe this kind of immersive, augmented reality will become a part of daily life for 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. I can't wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us.


    Glad I picked buying a PS4 over building an oculus rift minded gaming pc.

    Well, I can't pretend that I ever cared much for the Oculus Rift, so I'm not too troubled. But this maybe a sign that Facebook is in trouble. What does the Oculus Rift and Facebook have to do with one another? Nothing, as far as I'm aware. They may be trying to make it into a competitor for Google Glass, but I doubt many people are going to be willing to strap a very big set of goggles to their face when they go outside at all times.

    I just don't understand what Zuckerberg is planning to do with this purchase, other than trying to desperately diversify his business to survive the inevitable social media bubble collapse (and we all know it's coming).


    Swift justice.
    Should never have happened in the first place.

    Not gonna lie. My immediate reaction was: "THIS IS SO VERY VERY BAD FOR ANYONE WHO LIKES GAMES."

    If only because Facebook itself has been so very very bad for anyone who likes games. What with all the games-making publishers wondering why they're sinking hundreds of millions into games development when they could sink hundreds of thousands instead and get just as much profit from mobile games. Because those are games too, right? Right? That's what 'gamers' want, because that's what 'gamers' are buying on their mobiles right? Those are two completely fucking different markets and demographics? Games are just games, no?

    Farmville never looked so real!

    this is because Sony revealed they started VR before occulus and occulus freaked out.

    Catch 22; More money = better hardware..... But, it IS Facebook :(


    Palmer Luckey, one of the founders is confident that none of the reactionary responses will happen. Read it, and feel better.

    Dafuq?!?!...Would have been better if EA had got it.....that's saying something.

    Dear lord...it's happening, it's really happening.

    The segregation of those who refuse to be "plugged in", retain free will and hide in the shadows. Then those who remain within their octopus lift, living out their lives with tubes up their noses and I.V tubes hanging off them, jacked in 24-7.

    Zuckerburger doesn't want this for GAMES!!!! He want's to control the population!

    As the Bentusi say " No...We will not be bound!"

    Friends, resist!!!

      "They control life, squatingtiger, at all its levels. You are imagining that there is something called human nature which will be outraged by what they do and will turn against them. But they create human nature, Men are infinitely malleable." =P

    Talk about the worst news ever.
    I feel violated.

    Last edited 26/03/14 6:56 pm

    RIP Oculus Rift.

    I bet John Carmack's thinking "what the fuck have I done.. I closed Armadillo Aerospace and left id for this?"

    What about the poor Kickstarter investors?? (donators)
    Bet they be mighty pissed right now!
    Be nice if half the FB money spread out to the people who got this off the ground.

      What about them? We got what was agreed upon - donate to the kickstarter, get a dev kit/t-shirt/whatever else was at the level you pledged. The transaction was over once the rewards were in backers' hands, they don't owe us squat now.

    This is nonsense, i don't even want for my usual life to be connected with anyone. Let alone share my information. I don't even use Facebook, does that mean i have to make a damn account to use this thing? sigh.

    Surely this was more than a $2bn dollar idea/technology? If it's going to to change the world why sell it off early to a huge corporation before you've even sold a unit? Didn't FB just buy Whatsapp for $19bn?!

    Last edited 27/03/14 3:28 am

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