Why did Facebook Buy Oculus Rift

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Manuel Angeles

SAN FRANCISCO — When Facebook ponied up $2 billion Tuesday for virtual-reality goggle maker Oculus Rift VR, what exactly was it buying? Could this be the new way of virtual interaction?

Oculus Rift Acquisition by Facebook

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 Rift 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.”

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What is the Oculus Rift

The Oculus Rift is an upcoming virtual reality head-mounted display. It is being developed by Oculus VR, which has raised US$91 million for its development. The consumer version of the product is expected (but not confirmed) to become available in late 2014 or early 2015. On March 25, 2014, Oculus VR was purchased by Facebook for $2 billion.

I guess it’s another way to get people to waste their time when they could be using it to make money. Would you buy the Oculus Rift?

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Shooting games would be epic on the Oculus Rift