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Facebook buys Oculus VR for $2 billion moving into social virtual reality

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Originally posted on Social Tonic:

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Facebook’s is backed up its recent purchase of a messaging app with another acquisition having just  paid 2 billion for Oculus VR, the maker of a virtual reality gaming headset called Oculus Rift.  Oculus has sold 75,000 pre-orders for development kits, which cost $350, giving it approximately $26 million in income.

The deal which involves the payment of  $400 million in cash, with 23.1 million shares of Facebook common stock valued at $1.6 billion.  In addition, the deal includes a $300 million earn-out in cash and stock.

Initially  Oculus got its start using  Kickstarter, raising  $93.4 million in venture funding from the following companies; Spark Capital, Matrix Partners, Founders Fund, Formation 8, BIG Ventures, and Andreessen Horowitz.

According to Facebook they view  Oculus Rift as a communication platform. The company and its 75 employees will still continue to operate independently from Facebook continuing their path of developing a platform for virtual reality games.

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