Facebook Will Acquire Virtual Reality Company For $2 Billion | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Facebook Will Acquire Virtual Reality Company For $2 Billion

Facebook announced a pretty big purchase on Tuesday: The social media giant said it was acquiring Oculus VR, a company that makes virtual reality goggles, for $2 billion.

The deal includes $400 million in cash and 23.1 million shares of Facebook, which the company values at $1.6 billion.

In a statement on his Facebook page, CEO Mark Zuckerberg said the company is making the purchase in an effort to focus on future platforms.

Oculus, Zuckerberg said, will concentrate on immersive games to begin with.

"After games, we're going to make Oculus a platform for many other experiences," Zuckerberg said. He continues:

"Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.

"This is really a new communication platform. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures."

Oculus for its part is a pretty new company. According to Crunch Base, which keeps tabs on technology firms, Oculus was founded in July 2012. In September 2012, the company raised $2.4 million on Kickstarter to make an immersive virtual reality headset for video games.

In a statement Tuesday, the company acknowledged: "We've come a long way in the last 18 months: from foam core prototypes built in a garage to an incredible community of active and talented developers with more than 75,000 development kits ordered."

If you're curious to learn more, NPR's Laura Sydell wrote a piece earlier this month about taking the company's headset for a spin.

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

WAMU 88.5

Art Beat With Lauren Landau, July 31

Today you can rock out to some familiar tunes or check out a local band’s debut album.

NPR

How To Order Pizza From A Nuclear Command Bunker

A trip to an underground Air Force nuclear bunker becomes a unexpectedly delicious culinary experience. Just don't order the gravy bowl.
WAMU 88.5

Jonnie Williams On Stand Again Today In McDonnell Corruption Trial

Former Star Scientific CEO Jonnie Williams will take the stand again today in the trial of former Virginia Gov. Bob McDonnell, and his testimony could be key in the case.

NPR

Can Pinterest Compete With Google's Search?

Pinterest has created a database of things that matter to humans. And with a programming team that's largely been hired away from Google, the company has begun offering what it calls "guided search."

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.