Tuesday, 25 March 2014

Facebook Buys Oculus Rift

What?! Why?!


Via Forbes;


Facebook isn’t just buying into mobile messaging — it’s also going for gaming.

In a Tuesday afternoon shocker, Facebook announced it is buying hot virtual reality gaming company Oculus VR for $2 billion. That includes $400 million in cash and 23.1 million shares of Facebook stock. There’s also an additional $300 million potential earn-out in cash and stock based on “the achievement of certain milestones.”

Fresh off Facebook’s $19 billion purchase of WhatsApp, CEO Mark Zuckerberg is showing the world that he isn’t afraid to use his company’s skyrocketing share price to get an edge in Silicon Valley. Facebook stock is up over 150% in the last year and both the WhatsApp and Oculus deals took advantage of that with large stock-cash splits.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Zuckerberg said in a statement. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

See full story Here


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