Loading articles...

Facebook buys virtual reality tech company Oculus for $2B

Loic Venance/AFP/Getty Images

Social media giant Facebook has agreed to acquire virtual reality tech company Oculus for about $2-billion.

Oculus announced its 3D gaming headset the Oculus Rift in 2012 and has since received more than 75,000 pre-orders for development kits.

In a statement released Tuesday, Facebook founder and CEO Mark Zuckerberg said Oculus will continue its development of the Oculus Rift independently out the company’s headquarters in California.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said 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,” said Brendan Iribe, co-founder and CEO of Oculus VR.

Zuckerberg said the company has bigger plans for the virtual reality headset than just gaming.

“After games, 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.”