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Facebook Buying Rift-Maker Oculus VR for $2 Billion

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Facebook’s announced that they’ll be purchasing Oculus VR, the Kickstarter start-up that launched the Rift headset. The pricetag’s coming in at about $2 Billion, which includes $400 million in cash and 23.1 million Facebook shares. If Oculus hits certain milestones, an additional $300 million will be paid out in cash and stock. Mark Zuckerburg’s announcement, which can be seen in its entirety below, assures fans that nothing will be changing with Oculus and Rift for now as they continue to deliver on the gaming market and operate independently from Facebook in the process. Where the social media giant will most likely step in is taking virtual reality beyond just gaming. Facebook’s goal is to make Oculus a platform for 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.”

In a post of their own, Oculus looks to the future:

“Over the next 10 years, virtual reality will become ubiquitous, affordable, and transformative, and it begins with a truly next-generation gaming experience. This partnership ensures that the Oculus platform is coming, and that it’s going to change gaming forever.”

Here’s the Facebook announcement by Mark Zuckerburg:

I’m excited to announce that we’ve agreed to acquire Oculus VR, the leader in virtual reality technology.
Our mission is to make the world more open and connected. For the past few years, this has mostly meant building mobile apps that help you share with the people you care about. We have a lot more to do on mobile, but at this point we feel we’re in a position where we can start focusing on what platforms will come next to enable even more useful, entertaining and personal experiences.
This is where Oculus comes in. They build virtual reality technology, like the Oculus Rift headset. When you put it on, you enter a completely immersive computer-generated environment, like a game or a movie scene or a place far away. The incredible thing about the technology is that you feel like you’re actually present in another place with other people. People who try it say it’s different from anything they’ve ever experienced in their lives.
Oculus’s mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences.
Immersive gaming will be the first, and Oculus already has big plans here that won’t be changing and we hope to accelerate. The Rift is highly anticipated by the gaming community, and there’s a lot of interest from developers in building for this platform. 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. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.
These are just some of the potential uses. By working with developers and partners across the industry, together we can build many more. One day, we believe this kind of immersive, augmented reality will become a part of daily life for billions of people.
Virtual reality was once the dream of science fiction. But the internet was also once a dream, and so were computers and smartphones. The future is coming and we have a chance to build it together. I can’t wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us.

Facebook’s purchase of Oculus is due to close in Q2 of 2014.