Facebook Acquires Oculus VR for $2 Billion

March 26, 2014

Virtual reality company Oculus VR has reported to have been acquired by the social media giant known as Facebook for $2 billion USD.

Facebook CEO Mark Zuckerberg took to social media as he made the big reveal and discussed the potential to create “completely new kinds of experiences,” alluding to what virtual reality could offer to the social networking platform. Examples included manipulating a dynamic field of view at live sports matches, attending classroom lectures remotely and plenty more.

This acquisition adds weight to the significance of virtual reality, as Sony recently announced their bid in the VR race, tentatively titled Project Morpheus. Coupled with the Oculus Rift’s highly successful Kickstarter campaign, the future technological trends could swing well within the bounds of virtual reality.

Oculus Rift founder Palmer Luckey along with the team at Oculus VR excitedly stated that “Facebook understands the potential for VR” and will endeavour to change the way the world socialises digitally.