Facebook buying virtual reality firm Oculus for $2bn but why did facebook pay $2bn for it

SatenderChauhan07

Facebook is a social network and Oculus makes gear that enhances video gaming. How is this awkward marriage going to work?

Facebook said it would build on Oculus´ technology, including a virtual reality headset aimed at gamers, seeking to use it in other areas such as communications, education, and entertainment.

Facebook CEO Mark Zuckerberg is definitely not finished with his shopping. Barely a month after Facebook spent $19 billion on WhatsApp, the company on Wednesday announced that it was buying Oculus VR, a firm that was working on a virtual reality headset for video gamers.

OculusRift1

Either way, there’s a lot of confusion surrounding this deal. So let us break down what Oculus VR does and why Facebook wanted it so badly.

What is Oculus VR?

Based on Irvine, california, Oculus is a young company founded by Palmer Luckey, who designed its core product — the Oculus Rift headset — as a…

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