Facebook Acquires Oculus VR for $2 Billion

Facebook announced Tuesday that it acquired Oculus VR, the company behind the Oculus Rift gaming headset in a cash and stock deal valued at $2 billion.

The terms of the deal include $400 million in cash and 23.1 million shares of Facebook common stock

The Oculus Rift project gained prominence on Kickstarter, raising over $2 million in the summer of 2012. The company went on to raise more than $91 million in venture funding in 2013. With this exit, the Oculus Rift is easily the most successful Kickstarter project of all time.

"Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate," Facebook CEO Mark Zuckerberg said in a statement. Read more...