Zuck Spends $2B on Virtual Reality

NEW TOY

Updated Apr. 14, 2017 4:41PM EDT / Published Mar. 25, 2014 5:42PM EDT

Eric Thayer/Reuters

Facebook announced Tuesday that it will purchase Oculus VR Inc. for $2 billion, in a deal involving $400 million in cash and 23.1 million shares of Facebook. Oculus specializes in immersive virtual-reality technology and has gained attention for its headset, Oculus Rift. “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” said Mark Zuckerberg, Facebook’s founder and CEO. “Oculus has the chance to create the most social platform ever, and change the way we work, play, and communicate.”

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Zuck Spends $2B on Virtual Reality

Eric Thayer/Reuters