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Facebook acquire Oculus VR Gaming Startup For $2 Billion

Facebook acquire Oculus VR Gaming Startup For $2 Billion

[dropcap style=”2″ color=”#f50a0a” text=”IN”]Statement by Mark Zuckerberg, Facebook announced its surprise purchase via a blog post. CEO Mark Zuckerberg has also revealed Facebook’s reasons for the deal. Facebook announced it is buying hot virtual reality gaming company Oculus VR for $2 billion. That includes $400 million in cash and 23.1 million shares of Facebook stock. There’s also an additional $300 million potential earn-out in cash and stock based on “the achievement of certain milestones.”

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[blockquote style=”quote” align=”right” author=”Mark Zuckerberg”]Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow.[/blockquote]Zuckerberg says that Facebook will “focus on helping Oculus build out their product and develop partnerships to support more games.” But he makes clear that after Oculus sees through its gaming ambitions, Facebook will expand the product into new territory. “We’re going to make Oculus a platform for many other experiences. 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.” Zuckerberg equates Oculus to “a new communication platform” and clearly has a vision that extends far beyond the gaming focus that helped Oculus become a smash Kickstarter success.

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