Oculus Rift purchased by Facebook

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dwcoates
Posts: 18
Joined: 23 Mar 2014, 07:05

Oculus Rift purchased by Facebook

Post by dwcoates » 25 Mar 2014, 23:30

How do you feel about this?

http://www.businessinsider.com/facebook ... ion-2014-3

From link:
Facebook is buying Oculus VR, a startup that makes virtual reality headsets, in a $2 billion deal.

Oculus doesn't make a consumer product yet, but its headset called the Oculus Rift for video game developers has completely changed the way many feel about video games.

The device is nearly impossible to describe. It makes you feel like you're truly immersed in a virtual environment. It's one of those things you have to try to fully understand. And we guarantee it'll blow your mind.

The question now is: why would Facebook buy a video game hardware company?

According to a statement from CEO Mark Zuckerberg, the company plans to expand Oculus beyond gaming:

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.

Oculus got its start on crowdfunding site Kickstarter, where it raised $2.4 million in 2012. Since then, other VCs have invested in the company. Most recently, Oculus raised $75 million in a round led by Andreessen Horowitz. Marc Andreessen, a partner at Andreessen Horowitz and a Facebook board member, tweeted today that he recused himself from acquisition talks between Facebook and Oculus VR.

Last summer, Business Insider spoke with Oculus VR's 21-year-old founder Palmer Luckey about how he came up with the device. You can read the full interview here.

By the way, this isn't Facebook's only recent major acquisition. Just a few weeks ago, Facebook bought WhatsApp in a $19 billion deal.

Developing...refresh for updates.

Here's the press release from Facebook:

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes$400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional$300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas. Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

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

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "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."

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.

The transaction is expected to close in the second quarter of 2014.

wheybags
Posts: 207
Joined: 21 Dec 2012, 19:41

Re: Oculus Rift purchased by Facebook

Post by wheybags » 26 Mar 2014, 00:20

ugh

SquireNed
Posts: 402
Joined: 21 Dec 2013, 22:18

Re: Oculus Rift purchased by Facebook

Post by SquireNed » 26 Mar 2014, 03:44

Gonna have to look elsewhere for my VR.

Tarius
Posts: 574
Joined: 24 Oct 2011, 19:29

Re: Oculus Rift purchased by Facebook

Post by Tarius » 26 Mar 2014, 04:48

How long will this take to ruin it when they "optimize" it for playing facebook games? (and some people think the only games that exist are on facebook sadly)
I am a bigger fan of tons of control rather than taking the "user-friendly" approach.
-Okulo

Tolchock
Posts: 49
Joined: 13 Nov 2012, 00:28

Re: Oculus Rift purchased by Facebook

Post by Tolchock » 26 Mar 2014, 09:43

I was going to purchase the new dev kit coming out this year, but this news has significantly reduced my excitement. Ergh, why...

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Okulo
Posts: 672
Joined: 05 Feb 2012, 16:11

Re: Oculus Rift purchased by Facebook

Post by Okulo » 26 Mar 2014, 09:54

Dropped like a hot sack of shit. This is why I'm not excited for anything I can't keep a close eye on. I don't want to be part of a facebook anything, I don't care how "free" Oculus is being kept.

wheybags
Posts: 207
Joined: 21 Dec 2012, 19:41

Re: Oculus Rift purchased by Facebook

Post by wheybags » 26 Mar 2014, 10:28

I wonder how this will affect the rifts pr. pretty much everyone I've talked to about this has rected EXTREMELY negatively

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Br0ken
Posts: 241
Joined: 02 Apr 2012, 05:54
Location: Siberia

Re: Oculus Rift purchased by Facebook

Post by Br0ken » 26 Mar 2014, 11:10

Oculus VR would be purchased anyway. It's too delicious piece of hardware for the industry. It could be worse if the buyer was a Microsoft. :)

Chris
Posts: 1579
Joined: 04 Sep 2011, 08:33

Re: Oculus Rift purchased by Facebook

Post by Chris » 26 Mar 2014, 11:47

Br0ken wrote:Oculus VR would be purchased anyway. It's too delicious piece of hardware for the industry. It could be worse if the buyer was a Microsoft. :)
Well, at least Microsoft has some investment in games. What's Facebook going to do with it?

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sirherrbatka
Posts: 2159
Joined: 07 Aug 2011, 17:21

Re: Oculus Rift purchased by Facebook

Post by sirherrbatka » 26 Mar 2014, 12:44

MS is not that bad. There are worse companies.

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