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Facebook Buys Oculus Rift Company for an Estimated $2 Billion
By Philip Anderson Posted in News, Reviews, Software on March 26, 2014

You probably visit Facebook daily to chat with friends, keep up with the news and catch up on cat videos, and thanks to the social giant’s latest acquisition, you may some day do it all in virtual reality.

Virtual reality will be getting a boost in validity with a new major acquisition, which includes $400 million in cash and $1.6 billion in Facebook shares.

Facebook has bought out virtual reality headset maker Oculus VR for roughly $2 billion, taking ownership of the California-based company behind the popular Oculus Rift headset.

The company’s 21-year-old founder, aptly named Palmer Luckey, first showed the headset in the summer of 2012.

Upon trying out the headset, Facebook CEO Mark Zuckerburg said he thought he was seeing the future and decided to buy the company.

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