Facebook Buys Out Oculus for 2 Billion

Facebook has announced it is buying the virtual reality gaming company Oculus VR for $2 billion. Oculus makes the Oculus Rift, a virtual reality headset that's received a lot of attention from video game developers. It has yet to be released, but Facebook says Oculus has received more than 75,000 orders for development kits for the headset. The deal includes $400 million in cash and 23.1 million shares of the Facebook stock. There’s also an extra $300 million in the event that the company succeeds in achieving selected goals.

Fresh off Facebook’s $19 billion purchase of WhatsApp, CEO Mark Zuckerberg is demonstrating to the universe that he isn't afraid to use his company’s skyrocketing share price to get an advantage in Silicon Valley. “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.” Zuckerberg stated on his Facebook page. 

Although Oculus products haven't taken off in the mainstream market yet, the second Oculus Rift development kit is available to pre-order for $350. It is unclear exactly how Zuckerberg views virtual reality fitting in with social networking, or if perhaps gaming is even his most important concentration with this particular purchase.

See Zuckerberg's Facebook Update

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