Zuck Spends $2B on Virtual Reality

    A portrait of the Facebook logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer (UNITED STATES - Tags: BUSINESS LOGO) - RTX17GX9

    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.”

    Read it at Facebook