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Oculus VR sale to Facebook: Would you say no to US$2 billion?

Published on Mar 27, 2014 3:38 PM
 
A gaming enthusiast using an Oculus virtual reality headset at the Eurogamer Expo 2013 in London on Sept 26, 2014. Everyone has a price. For the founders of virtual reality firm Oculus VR, that turned out to be US$2 billion ($2.5 billion) in cash and shares from Facebook. -- FILE PHOTO: AFP

Everyone has a price. For the founders of virtual reality firm Oculus VR, that turned out to be US$2 billion ($2.5 billion) in cash and shares from Facebook.

In a surprise announcement yesterday, the social media giant said it was buying Oculus VR, which makes the Oculus Rift virtual reality gaming headset. In a Facebook post, CEO Mark Zuckerberg said that the immersive experience enabled by virtual reality can be used in education and communication.

Oculus VR started out as a crowd-funded Kickstarter project in 2012 that raised an impressive US$2.4 million. But this figure pales in comparison to its US$2 billion valuation merely 21 months later.

However, the incredible tale of its rapid rise is being drowned by the backlash from some of its former supporters. On the Oculus Rift Kickstarter page, the latest comments from its original backers are mostly negative. They feel disappointed and angry about the deal.

 
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