Facebook buys Oculus Rift for $2billion, full details

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Mark Zuckerberg is on a spending spree. After buying Instagram for an enormous amount of money, Facebook has now bought Oculus Rift VR for $2 billion.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Facebook founder and CEO, Mark Zuckerberg. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

“We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world,” saidBrendan Iribe, co-founder and CEO of Oculus VR. “We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it’s only just the beginning.”

Things have heated up in the VR space with Sony announcing its own VR headset. Facebook might have a lot of plans with this technology and we should know about it soon enough.

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