Facebook Acquires Virtual Reality Startup Oculus For $2 Billion

Facebook has announced the take-over of virtual reality startup Oculus for $2 billion and would now aim to change the way we work, play and communicate.Few weeks ago, Facebook announced the purchase of WhatsApp for a staggering $19 billion and it appears there is no sign of Mark Zuckerberg closing his cheque book anytime soon as he has splashed another $2 billion for the purchase of Oculus – A virtual reality startup.

Like Google who sees a future in robotics and gradually moving away from the web, Facebook isn’t staying behind. Oculus will help the world’s largest social network whose user base stands a little above 1.2 billion to achieve a more robust and advanced social network. All of these will not happen from your desktops or web browsers but in a virtual world that would be pioneered by Oculus. Pretty much like the Google Glass or Sony’s massive investment in virtual reality with its hotly anticipated Project Morpheus.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” read a statement from CEO and founder Mark Zuckerberg said. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

The company said specifically that it would push Oculus’s brand of virtual reality beyond gaming, into “communications, media and entertainment, education, and other areas.”

The deal includes payment of $400 million cash and 23.1 million shares of Facebook common stock with an estimated value of $1.6 billion. There is also a certain $300 million (in cash and stock) captured in the deal, but can only be redeemed by Oculus owners if goals set behind the acquisition of the VR startup is actualized.

Oculus will continue to work on its successful Rift headset and their operations will still be carried out from its headquarters in California.