March 31, 2014

Fresh from getting a hold on the popular messenger application Whatsapp last month, Facebook has added yet another weapon to its armory by acquiring the virtual reality gaming startup. The deal has clearly indicated that the social networking giant is not at all hesitant to make full use of its strong market position and offer its users a world that will change the way they communicate and play in the virtual world.

The deal stands at an overall price of $2 billion; that includes 23.1 million shares of Facebook in addition to a cash amount of $400 million. Among the other facts associated with the deal, Mark Zuckerberg stated that Oculus VR will continue to be headquartered in Irving.

Oculus VR is best known for its development of Oculus Rift. It is a virtual reality head-mounted display that is extensively used in video games. Facebook CEO Mark Zuckerberg has made it clear to the world that this acquisition and the last month deal on Whatsapp, both are meant to give the company an edge when it comes to social platforms in future. Mobile platforms are the norm today; Oculus will give Facebook that edge when it comes to platforms of the future.

The prime source of raising funds for the development of Oculus Rift came through a Kickstarter campaign back in the year 2012. After raising $2 million in 2012, this count went up to a staggering $91 million last year. With this deal, Oculus Rift is all set to become one of the most successful Kickstarter projects of all times.

This is what the Facebook CEO had to say about the acquisition: “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.” He further added, “Oculus has the potential to be the most social platform ever. Imagine not just sharing moments with your friend’s online but entire experiences.”

Zuckerberg also clearly mentioned that Oculus was way ahead of the lot when it came to the ‘best and brightest’ minds in technology. By acquiring the company, the social networking giant was also adding to its human resource prowess; by having people with an impeccable knowhow of computing and technology on board, Facebook is going to reap significant benefits.

Investors and web developers from across the world echoed similar sentiments as those shared by Mark Zuckerberg when it came to virtual reality being the ‘future of computing’.

With the deal finally being official, Facebook is all set to become a totally immersive experience for its users who can share events, visits, and lots more with friends, making them truly connected to one another in the process.