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Facebook Just Bought Oculus VR

For $2 billion in cash and stock.

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Here's one you probably didn't see coming.

Facebook announced today that it is acquiring Oculus VR, creators of the still-in-development Oculus Rift VR headset, for $2 billion in cash and shares of Facebook stock. Go ahead, take a moment to process that. Facebook now owns Oculus Rift.

"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," Facebook founder and CEO Mark Zuckerberg said in the company's official press statement. "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."

The Oculus Rift has been in development since 2012, following a successful Kickstarter campaign that netted the company nearly $2.5 million in funding. The Rift has only been available in dev kit form thus far, with the final consumer model expected to hit the marketplace in late 2014/early 2015. Most recently, the company retained the services of longtime id Software figurehead John Carmack for the role of chief technology officer.

And now Facebook owns Oculus Rift. Facebook. Anyone else having a hard time parsing this one?

Alex Navarro on Google+

767 Comments

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iiijoe3

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= motion sickness 4 me . . Oh well.

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Joe1985

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Why doesn't Facebook buy Pepsi? You know, for no reason, just because they can.

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SwissLion

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Phil Fish was riiiiiight.

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csl316

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I dunno, looks like it might be fun.

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GaspoweR

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@dagbiker said:

@gaspower said:

@dagbiker said:

Games are dead.

Just when VR might have had a chance, it gets fucked up.

As per the announcement, Oculus will remain autonomous and will still be gaming focused. They're going to be opening up an office in SF so I'm guessing that's where the expanded applications outside of gaming are going to be done while the other offices like the one Dallas with Carmack will still remain the same.

I dont know, Thats what they said about Bioware too.

Well, Bioware is still around and they still have a chance to redeem themselves. I was somewhat disappointed with the last few games but at the very least the worst that could have happened was if they got shuttered altogether.

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selbie

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@selbie said:

Only begun, the goggle wars have

Actually, ended just now have they, my good man! There was supposed to be a war between the courageous Oculus and SONY but Zuckerberg just made Oculus forfeit!

That's fairly presumptuous considering Oculus now has a wad of cash which puts them at the same competitive level as Sony.
Patrick is right, people are unbelievably naive about this acquisition.

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ITS_A_SECRET_TO_EVERYBODY

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MrWillz

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I never post comments but wow. I was super excited about the potential but now I just don't know.

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ProfessorEss

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Edited By ProfessorEss

@csl316 said:

I dunno, looks like it might be fun.

Awesome.

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TooBz

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For me, it's simply that the level of expectation has shifted. Before OR got the benefit of the doubt I took what they said in the best possible light. Now, my expectation is that they will be terrible. They can still prove me wrong, but I think public opinion will be skeptical.

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SingingMenstrual

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@csl316 said:

I dunno, looks like it might be fun.

Genius gif

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agentboolen

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ANocturnalWar

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I can totally see why Facebook would buy OVR. I think of it in the same way that I think of Google Glass, another device that if they can integrate into your life as well as your PHONE (you know that thing you hardly ever use?) then that's more ad space, more time social media is in your day to day life, more time connecting with people and ultimately more time spent using your product.

I don't think I'll ever be into this everyday virtual reality craze. I'll try it in like 40 years when the glasses I already have to wear just to see, come with the technology built in.

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Hilts

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Oh thank god! It was just an April fools gag.

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Brackynews

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@lucien21 said:

Kickstarter is VERY clear on the fact you are not investing in the companies you are paying for goods. In the case of the OR you were paying for a development kit that presumably everyone got. They had no stake or say in what happens to the company.

On "paper" sure. But it doesn't pass the hearts-and-minds test of what actually seems to be happening by people who are invested. Most website services and software agreements have a clickwrap that says some combination of "we're not liable, and you can't sue us." This neither stops lawsuits from being brought, or being won. And where laws differ, the agreements become irrelevant.

Eventually, Kickstarter may be the one who has to change their facts to match reality.

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LordElkDeer

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