Facebook to Buy Virtual Reality Company Oculus RiftDale Wright
Facebook has announced that it will acquire virtual reality company Oculus Rift for $2 billion, it has been announced.
Mark Zuckerberg, CEO of the social networking giant, announced that Oculus Rift would allow Facebook to develop for the ‘platforms of tomorrow’ and that the software would be developed beyond use for gaming and into communications, media, entertainment, and education areas.
Of the acquisition, Zuckerberg said: “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”
The sale is comprised of $400 million in cash, as well as 23.1 million shares in of Facebook’s common stock, and is expected to close in the second quarter of this year. The Oculus Rift virtual reality headset hasn’t had a commercial release yet, but game developers have been able to buy it.
Needless to say, the reactions from Oculus Rift fans online have been somewhat mixed. Several game developers have posted about their dismay of Facebook’s buyout of the company. Minecraft creator Markus Persson wrote a blog detailing why he would no longer be bringing his game to Oculus Rift, citing the reason that Facebook would only be interested in building user numbers and making the VR software conform to the social experience. Plenty of other fans posted similar messages of disappointment on Oculus Rift founder Palmer Luckey’s Reddit post about the buyout, as Facebook doesn’t always have the best track record when it comes to privacy.
However, if you’re against Facebook buying Oculus Rift, here are a few things to consider. The same team will still be working on the development of the Oculus Rift, but they will have access to a lot more money to be able to expand the software to new opportunities. Technology research is expensive, and it’s possible that Facebook’s involvement will mean that Oculus Rift will be available to consumers sooner, rather than it creating a setback.
What do you think about Facebook taking over Oculus Rift? Will it be good for virtual reality, or is it a bad idea?