Facebook to buy Oculus Rift for $2B | TigerDroppings.com
Posted by
Message
sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

Facebook to buy Oculus Rift for $2B

Business Insider


So Candy Crush and Farmville are finally going to get that immersive experience gamers around the world have been pining for


Press Release:

Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes$400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional$300 million earn-out in cash and stock based on the achievement of certain milestones.

Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas. Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.

"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," said Facebook founder and CEO, Mark Zuckerberg. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."

"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.

The transaction is expected to close in the second quarter of 2014.






Is it possible this has made VR even LESS appealing?
This post was edited on 3/25 at 4:50 pm



Bunta
LSU Fan
Member since Oct 2007
7443 posts
Online

re: Facebook to buy Oculus Rift for $2B


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
My twitter feed is full of "WTF" from the gaming industry.

Patrick Klepek from Giantbomb, who broke the West/Zampella/Infinity Ward story, tweeted:

quote:

I heard someone was buying Oculus while at GDC last week. The name I was told was not Facebook


Replies (0)
Replies (0)
DieDaily
LSU Fan
West of a white house
Member since Mar 2010
1565 posts

re: Facebook to buy Oculus Rift for $2B
I am still excited about VR's potential but I have no idea what to think of this. My initial reaction is disappointment.


Replies (0)
Replies (0)
DownSouthCrawfish
LSU Fan
Karma, Shakers, or Bed
Member since Oct 2011
8479 posts

re: Facebook to buy Oculus Rift for $2B
I feel like I dont like this idea...


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
I mean, this is great money for the OR team. I'm sure they can use it. I'm just curious as to what FB is going to shove down their throats.


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
From Klepek again:

quote:

People's fear over the Oculus Rift buyout is worrying Facebook is going to acquire the technology as a talent grab and Oculus disappears.


quote:

Microsoft and Google have done this many, many times. Is Facebook that? I don't know. But I understand the unease.


quote:

Facebook bought Oculus, Sony reveals Morpheus. Neither shows me how anyone can release these products at a reasonable price for mass appeal


This post was edited on 3/25 at 4:59 pm


Josh Fenderman
Alabama Fan
Ron Don Volante's PlayPen
Member since Jul 2011
5246 posts

re: Facebook to buy Oculus Rift for $2B
But think about how immersive facebook stalking girls' spring break bikini pictures will be


SG_Geaux
LSU Fan
Googolplexian Posts
Member since Aug 2004
53152 posts

re: Facebook to buy Oculus Rift for $2B
Yeah this makes no sense at all.


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
Waiting for reddit to deliver.


sbr2
Member since Apr 2011
13577 posts
Online

re: Facebook to buy Oculus Rift for $2B
Facebook VR coming soon. I'll be able to minority report swipe farmville and candy crush game invites away!


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
First facebook/oculus rift exclusive announced.



sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
Adam Sessler:

quote:

They were always going to be acquired. FB gives the best chance for proper time to develop and investigate its broader uses...



I agree it's probably good for the OR team. I just don't like what FB is and I don't like them in the gaming industry.


sicboy
Cincinnati Fan
Because Awesome
Member since Nov 2010
42042 posts

re: Facebook to buy Oculus Rift for $2B
This is from notch, creator of Minecraft:

quote:

We were in talks about maybe bringing a version of Minecraft to Oculus. I just cancelled that deal. Facebook creeps me out.



Yikes.


Klepek:

quote:

Listening to the Facebook call about the Oculus buyout. When is it shipping? "We don't have anything to say on that now."


quote:

Facebook doesn't look at Oculus as something that matures in the next year or two. They're looking at 5-10 years.


quote:

(I don't think that references when a consumer version would ship, only to set expectations for mass adoption, ala smartphones.)
This post was edited on 3/25 at 5:41 pm


Sl4m
LSU Fan
Baton Rouge
Member since Apr 2012
3717 posts

re: Facebook to buy Oculus Rift for $2B
I'm shocked, I really am. I think most people, or at least I did, figured it was a given that MSFT would purchase OR.



SG_Geaux
LSU Fan
Googolplexian Posts
Member since Aug 2004
53152 posts

re: Facebook to buy Oculus Rift for $2B
I figured MS, Sony, Nintendo, Valve.

Maybe even Google. Never pictured Facebook.
This post was edited on 3/25 at 5:49 pm


Replies (0)
Replies (0)
Cs
Member since Aug 2008
4270 posts

re: Facebook to buy Oculus Rift for $2B
quote:

figured it was a given that MSFT would purchase OR.


Microsoft has been developing their own VR technology for years.


Replies (0)
Replies (0)
bluebarracuda
LSU Fan
Baton Rouge
Member since Oct 2011
7960 posts
Online

re: Facebook to buy Oculus Rift for $2B
Minecraft would have been amazing on OR


UltimateHog
Wake Forest Fan
Springfield, MO
Member since Dec 2011
40474 posts

re: Facebook to buy Oculus Rift for $2B
@yosp: Wow, I did not see this coming, congratulations! @oculus @brendaniribe @natemitchell


Replies (0)
Replies (0)
Scruffy
USA Fan
Member since Jul 2011
38136 posts

re: Facebook to buy Oculus Rift for $2B
Hell yea! So I can virtual Facebook in the future.

Real life isn't in HD.


Page 1 of 3

Back to top

Follow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram