March 26, 2014

Facebook is buying Oculus VR for $2 billion, plans to 'unlock new worlds for all of us'

Mark Zuckerberg is following up his Whatsapp buy with another big acquisition: virtual reality company Oculus VR for $2 billion in stock and cash (curiously, news of the talks may have leaked on Reddit a month ago). In a post on Facebook, Zuckerberg talks at length about how Facebook plans to make Oculus a platform for "completely new kinds of experiences," and gaming is only the first one. Examples he suggests include sitting courtside at a big game, studying in a classroom with other students virtually or getting a face to face doctor consultation from anywhere. The idea that virtual reality may be the next big thing gained more credibility last week when Sony showed off a prototype VR headset for developers, Project Morpheus. That also means Oculus is suddenly staring down a massive competitor -- with others likely on the way -- and now it has the resources of the social network to rely on.