How & Why Did Facebook Acquire Oculus VR For $2 Billion; What is The Future For Oculus ?
After Facebook WhatsApp Acquisition Happens - What's Your Opinion?, Facebook has gone ahead and Facebook to Acquire Oculus. For the uninitiated, Oculus VR is the company which created the Oculus Rift virtual reality headset, got it funded on Kickstarter and have received over 75,000 developer kit orders. The announcement of this acquisition was made by both Facebook founder and CEO Mark Zuckerberg on #-Link-Snipped-# and by the Oculus VR team #-Link-Snipped-#. In this article to make sure that our readers get answers to various questions about this deal, we have separated the article into into four parts and we start with the question
How Was This Deal Made?
Palmer, Brendan, John and the Oculus team
Talks of this deal began a few months ago when three members of the Facebook core team including CEO Mark visited the Oculus office to see a demonstration of their Oculus Rift virtual reality headset. After taking a look at their creation they started to discuss how they could collaborate and take this technology to more billions of people around the world. As they continued further discussion the team at Oculus could see that both the companies shared a common vision to create a new platform that would revolutionise the way how people connected with each other.
Why This Deal Was Made?
Both Zuckerberg and Oculus founder Palmer Luckey acknowledge the fact that a deal between a social networking website and a virtual technology company sounds a bit odd but both have stated their reasons on why they wanted this deal to be made. Palmer says in #-Link-Snipped-# that Facebook’s company culture is very similar to that of Oculus’. Facebook knows that virtual reality is the next step to a more connected and open world. Oculus says that Facebook has understood the potential for virtual reality and with of the Facebook team they can build better virtual reality experiences. Zuckerberg says in his post that Oculus is the new communication platform and with their expertise they can build more more useful, entertaining and personal experiences.
Folks #-Link-Snipped-# however pointed out that with the Sony's Project Morpheus To Take The Player Physically Inside The Virtual Game World by Sony, virtual reality headsets have went on to become the next big thing and Facebook is trying to gain an early ground in this market with this acquisition.
What Is The Future Of Oculus & Virtual Reality Headsets?
According to Zuckerberg, Facebook will let Oculus work as independent entity like Instagram. The main aim of Oculus remains the same which is creating immersive gaming experience. Facebook is planning to develop other immersive experiences such as sitting courtside at a game, virtual classroom, face-to-face doctor consultation from anywhere in the world. Zuckerberg #-Link-Snipped-# in a conference call that they will be using the potential of virtual communication network to push for virtual goods and in the future use for advertising.
Financial Details Of The Deal
Facebook To Buy Oculus VR, Maker Of The Rift Headset, For Around $2B In Cash And Stock • TechCrunch the $2 billion Facebook has paid for Oculus includes $400 million cash and 23.1 million Facebook shares. If Oculus manages to hit some certain unspecified milestones an extra $300 million will be paid as an earnout.
So as another company joins Facebook, what do you think will become of Oculus VR. Let us know in the comment section below.
How Was This Deal Made?
Palmer, Brendan, John and the Oculus team
Talks of this deal began a few months ago when three members of the Facebook core team including CEO Mark visited the Oculus office to see a demonstration of their Oculus Rift virtual reality headset. After taking a look at their creation they started to discuss how they could collaborate and take this technology to more billions of people around the world. As they continued further discussion the team at Oculus could see that both the companies shared a common vision to create a new platform that would revolutionise the way how people connected with each other.
Why This Deal Was Made?
Both Zuckerberg and Oculus founder Palmer Luckey acknowledge the fact that a deal between a social networking website and a virtual technology company sounds a bit odd but both have stated their reasons on why they wanted this deal to be made. Palmer says in #-Link-Snipped-# that Facebook’s company culture is very similar to that of Oculus’. Facebook knows that virtual reality is the next step to a more connected and open world. Oculus says that Facebook has understood the potential for virtual reality and with of the Facebook team they can build better virtual reality experiences. Zuckerberg says in his post that Oculus is the new communication platform and with their expertise they can build more more useful, entertaining and personal experiences.
Folks #-Link-Snipped-# however pointed out that with the Sony's Project Morpheus To Take The Player Physically Inside The Virtual Game World by Sony, virtual reality headsets have went on to become the next big thing and Facebook is trying to gain an early ground in this market with this acquisition.
What Is The Future Of Oculus & Virtual Reality Headsets?
According to Zuckerberg, Facebook will let Oculus work as independent entity like Instagram. The main aim of Oculus remains the same which is creating immersive gaming experience. Facebook is planning to develop other immersive experiences such as sitting courtside at a game, virtual classroom, face-to-face doctor consultation from anywhere in the world. Zuckerberg #-Link-Snipped-# in a conference call that they will be using the potential of virtual communication network to push for virtual goods and in the future use for advertising.
Financial Details Of The Deal
Facebook To Buy Oculus VR, Maker Of The Rift Headset, For Around $2B In Cash And Stock • TechCrunch the $2 billion Facebook has paid for Oculus includes $400 million cash and 23.1 million Facebook shares. If Oculus manages to hit some certain unspecified milestones an extra $300 million will be paid as an earnout.
So as another company joins Facebook, what do you think will become of Oculus VR. Let us know in the comment section below.
Replies
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Satya Swaroop DashThis seems to reflect Facebook's mood 😉
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Ankita Katdare@ Satya Great post, first of all.
I am really surprised. One can't predict what is going on in the minds behind the tech-giants. I did believe that Oculus would eventually be eaten up by a larger company but Facebook never crossed my mind.
What would be next now? Valve?! 😲
There are two things that might happen -
1. We all get to play games such as Candy Crush or Farmville in virtual 3D.
(Who wants that? 👀)
2. We will be able to virtually enter friend's houses or party places.
(Not sure how this came to my mind. 😨) -
Abhishek Rawal#-Link-Snipped-#
Ya'all got pwned!
I am kinda relieved though. [HASHTAG]#TakesDeepBreath[/HASHTAG] -
Ankita Katdare😭 😨 😁
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Kaustubh KatdareI doubt it's a joke. The official acquisition post lives on the official website of Oculus without any update: #-Link-Snipped-#
...and April fools jokes are published only on April 1. Not in March! 👎 -
Satya Swaroop DashAbhishek Rawal#-Link-Snipped-#
Ya'all got pwned!
I am kinda relieved though. [HASHTAG]#TakesDeepBreath[/HASHTAG]Ankita Katdare😭 😨 😁
Yes, Biggie is right, because the news was published on the Muktware website as a SATIRE.Kaustubh KatdareI doubt it's a joke. The official acquisition post lives on the official website of Oculus without any update: #-Link-Snipped-#
...and April fools jokes are published only on April 1. Not in March! 👎
Just read the text on the right hand side of the post. Screen shot attached below.
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Ankita KatdareLooks like #-Link-Snipped-# made me an early April fool. 😁
-
Jason EstibeiroMarkus Persson, creator of Minecraft tweeted that he'll be cancelling his deal with Oculus after Facebook acquired it ...
#-Link-Snipped-# -
Abhishek Rawal
Nice trolling, ain't it ? 😉Ankita KatdareLooks like #-Link-Snipped-# made me an early April fool. 😁
You are reading an archived discussion.
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