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Facebook’s Zuckerberg promises heavy investment in Oculus VR

By July 24, 2014March 24th, 2020Newswires

By Christian Nutt

In the investor call following Facebook’s most recent quarterly results, Facebook CEO and co-founder Mark Zuckerberg painted an ambitious vision for virtual reality by way of explaining his motivation for acquiring Oculus VR.

The social networking company agreed to pay $2 billion for the VR startup earlier this year; the transaction closed this week, bringing it formally into the Facebook family.

But why? By way of explaining the acquisition of Oculus VR, Zuckerberg said, “We’ve mostly been a company that has played on top of the different mobile foundations other people have built,” Zuckerberg said. Facebook was founded in 2004, between the introduction of the smartphone and its popularization.

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