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Developers react: Facebook buys Oculus VR

By March 26, 2014March 24th, 2020Newswires

By Alex Wawro

Facebook announced today that it has entered into an agreement to acquire Oculus VR, creator of the Rift VR headset, for $2 billion — $400 million in cash and 23.1 million shares of Facebook common stock, plus an additional $300 million in cash and stock based on “the achievement of certain milestones.”

The news spread like wildfire across social networks and sparked a torrent of responses, including one from The Social Network man himself.

“The Rift is highly anticipated by the gaming community, and there’s a lot of interest from developers in building for this platform,” stated Facebook founder Mark Zuckerberg in a Facebook post announcing the deal. “We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.”

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