hot  /  reviews  /  videos  /  cblogs  /  qposts

Facebook to acquire Oculus VR for around $2 billion

4:40 PM on 03.25.2014 // Jordan Devore
  @DtoidJordan

The deal is happening in Q2 2014

Facebook announced today it has reached an agreement to acquire virtual-reality headset maker Oculus VR, Inc. for approximately $2 billion -- spread across $400 million in cash and 23.1 million shares of Facebook common stock -- with an extra $300 million earn-out in cash and stock tied to certain undisclosed milestones. The deal is expected to happen in the second quarter of 2014.

"Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas," reads a press release. "Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform."

Facebook CEO Mark Zuckerburg elaborated on the acquisition in a post, writing that "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.

"But this is just the start. After games, we're going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face -- just by putting on goggles in your home. This is really a new communication platform."

Unexpected, to put it mildly, but this makes sense given the long-term plans of both companies.



Jordan Devore, Managing Editor
 Follow Blog + disclosure DtoidJordan Tips
Jordan is a founding member of Destructoid and poster of seemingly random pictures. They are anything but random. Disclosure: I backed Double Fine Adventure and Awesomenauts: Starstorm on Kickst... more   |   staff directory

 Setup email comments

Unsavory comments? Please report harassment, spam, and hate speech to our moderators, and flag the user (we will ban users dishing bad karma). Can't see comments? Apps like Avast or browser extensions can cause it. You can fix it by adding *.disqus.com to your whitelists.

 Quickposts
Status updates from C-bloggers

Jish K avatarJish K
Greetings. For I am new. And still struggling to get that dang blog header to change.
From Must Git Gud avatarFrom Must Git Gud
MGSV is looking very good so far! Played to 2% completion last night. Pure stealth seems REALLY hard so far. PS3 version runs fine, loading times are OK, no slow downs, draw distance and pop-in are a bit rough. No glitches. Be prepared! Get it on PS4.
Jed Whitaker avatarJed Whitaker
Jealous of all my brethren at PAX Prime. Sad I will miss out on the drinking, orgies and catching the PAX flew. This time next year though, I'll be there! I promise!
SeymourDuncan17 avatarSeymourDuncan17
Forgot to mention that I celebrated completing Persona 4: Golden by binging on a bunch of totally in-canon doujins. Including, but not limited to, Yu on genderswap't Yosuke. [img]http://i.imgur.com/Ex0MgjW.jpg[/img]
Solar Pony Django avatarSolar Pony Django
If you love Splatoon and Transformers you may want to check theyetee.com today. http://theyetee.com/ Let's just say the shirts are... Splatfest themed. [img]https://www.filepicker.io/api/file/j2AnOnQvRZqustSU45JP[/img]
Zack Furniss avatarZack Furniss
BREAKING: Dtoid is at the IGN Lara Croft Go party. You can hold live snakes because why the fuck not, but one snake is missing...
OverlordZetta avatarOverlordZetta
someone help i think i'm writing what is going to be my longest blog yet
OverlordZetta avatarOverlordZetta
[url="http://nintendoeverything.com/yacht-club-on-the-shovel-knight-amiibos-origins-nintendo-on-third-party-figures/#more-216265"]Interview with Yacht Club Games that miiiight basically confirm Shovel Knight isn't getting a Nintendo boss/level?[/url]
RexterNathan avatarRexterNathan
Spent most of my day going back and playing Assassin's Creed: Unity. I really quite enjoyed it. It's a good game.
Bardley avatarBardley
Reserved my copy of The Phantom Pain today and my car died on the way back home. Thanks Konami. On the plus side, I got to ride in a tow truck to the auto shop. Felt like an elementary school field trip or something for a few minutes.
Mike Wallace avatarMike Wallace
Humble Bundle End of Summer Sale! Get a free Stealth Inc. 2 maybe? I dunno. Just signal boosting for no particular reason. Maybe 'cause I got a free game? Least I could do. https://www.humblebundle.com/store
GoofierBrute avatarGoofierBrute
I gotta to admit: it feels nice to be able to play a Pokemon game without thinking to myself "oh shit, I got to fill up my Pokedex". It's nice. Oh yeah, and for the record, I'm playing through Soul Silver.
Pixie The Fairy avatarPixie The Fairy
I enter the Gamestop. I set a Toad plushie atop a Yoshi plushie. I set Mario to go down on Kirby. I leave the Gamestop.
gajknight avatargajknight
Niero, just killed a man, Put my dick inside his head, cummed my load and now he's dead. Niero, we had just begun, But now I've gone and thrown it all awayyyyyy. Nierooooooo, ooooooooh.
guitarvillain avatarguitarvillain
That thought sends shivers down my spine.
SeymourDuncan17 avatarSeymourDuncan17
Lacking recording/social features aside (I actually do love that aspect of the PS4), I've been really enjoying my Xbone. Sunset Overdrive is like Saints Row meets Tony Hawk and lovingly self-aware.
OverlordZetta avatarOverlordZetta
Wait, wasn't that Pokemon Detective Pikachu game supposed to come out this year?
sakesushi avatarsakesushi
Humble Bundle End of Summer Sale! They're doing it wrong though, putting up [url="https://www.humblebundle.com/store"]Stealth Inc. 2 for free[/url]
Snaveage avatarSnaveage
Just cleared out a whole village fultoning every single guard. I AM BIG BOSS.
Jiraya avatarJiraya
Metal Gear Solid - Marriage - Revengeance [youtube]https://youtu.be/YN470wKT9PM[/youtube]
more quickposts


Contest!


Seriously

Invert site colors

  Dark Theme
  Light Theme


Destructoid means family.
Living the dream, since 2006

Pssst. konami code + enter

modernmethod logo



Back to Top


We follow moms on   Facebook  and   Twitter
  Light Theme      Dark Theme
Pssst. Konami Code + Enter!
You may remix stuff our site under creative commons w/@
- Destructoid means family. Living the dream, since 2006 -