Facebook aims for virtual reality domination, buys up Oculus Rift for US$2 billion

First WhatsApp, now Oculus Rift, what's next for the world's biggest social media company?
Facebook aims for virtual reality domination, buys up Oculus Rift for US$2 billi

Facebook aims for virtual reality domination, buys up Oculus Rift for US$2 billion

In today's surprise news, Facebook announced it just acquired Oculus VR, maker of the Oculus Rift virtual reality headset, to the tune of US$2 billion (US$400 million in cash and US$1.6 billion worth of Facebook shares).The Oculus Rift is an as-yet-to-be-released headset that promises an immersive, stereoscopic 3D view which lets you take 360 degree look-arounds in a more natural manner thanks to low latency head tracking. As an additional bonus, it's not going to break your bank to acquire, with its makers focusing on creating a lightweight, wearable and yet comparatively affordable device.

As to why it made the buy, Facebook thinks virtual reality is going to be the next big thing. In a conference call to analysts, Facebook founder Mark Zuckerberg said Oculus could well be the most social platform ever. ‘“Imagine sharing not just moments with your friends online, but entire experiences and adventures.” Virtual Candy Crush anyone?

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