Business What is Oculus, and why did Facebook buy it for $2 Billion?

Vunderkind

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Whatever Oculus is, Mark Zuckerberg thinks it is pretty awesome. I mean, he spent $2 billion copping it. But then again, Mark buys everything. Sigh.

The Facebook genius says virtual reality is the next major computing platform, and he has just secured his fingers in the cookie jar with the Oculus buy.

First, here’s exactly how much Mark Zuckerberg paid for Oculus: $400 million and 23.1 million Facebook shares, plus another $300 million in potential bonuses.

Seeing as Oculus is a start-up company that deals in hardcore PC games and Facebook is, well, Facebook, why exactly did Mark Zuckerberg buy Oculus?

‘Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,’ the great WhatsApp purchaser said. “‘Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.’

‘The incredible thing about the technology is that you feel like you’re actually present in another place with other people. People who try it say it’s different from anything they’ve ever experienced in their lives’,Mark Zuckerberg said on Facebook. “‘Immersive gaming will be the first, and Oculus already has big plans here that won’t be changing and we hope to accelerate. The Rift is highly anticipated by the gaming community, and there’s a lot of interest from developers in building for this platform,’ he added.

‘We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this’.

The Whiplash

Most people do not share Zuckerberg’s enthusiasm. They feel the Facebook deal is bad for Oculus, bad for virtual reality and bad for gaming. Just. Simply. Terrible.

Minecraft creator Markus “Notch” Persson was sufficiently pissed off that he announced in a tweet that he had planned to bring a version of his popular game to Oculus, but “Facebook creeps me out” and now he’s canceled the deal.
 

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