Train2Game News Facebook buy Oculus Rift

Oculus RiftThe news broke last night that Facebook has bought the Oculus Rift firm for $2 billion. The company is working on a virtual reality headset.

Oculus Rift got off the ground thanks to Kickstarter funding which allowed them to work on their virtual reality headset which would allow for extremely immersive gaming. Oculus’ crowdfunding campaign raised $2.4m, 10 times the amount originally sought, it then received a further $75m from investors. The Oculus Rift has yet to be released, but more than 75,000 orders for development kits have already been placed.

In a statement released by the Social Media Company, Facebook said it plans to expand the use of Oculus technologies to include “communications, media and entertainment, education and other areas”.

Commenting on the deal, Mr Zuckerberg said: “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow.”

The deal includes $400m in cash and just over 23 million Facebook shares, valued at $1.6bn. Oculus employees will also receive an additional $300m if the company achieves certain targets.

How this will affect the future of Oculus Rift is yet to be seen but the future is definitely on its way.

Source: BBC News