On 25 March 2014, Facebook Inc (NASDAQ:FB) owner Mark Zuckerberg, through his post made an announcement that his company has “agreed to acquire Oculus VR, the leader in virtual reality technology.” At that time, Facebook had paid $2 billion for this acquisition. However, of late, it is learnt that the company paid $2 billion as what may be called a “token amount.” It is expected that the company would pay as much as $11 billion to acquire Oculus VR.
The whopping amount is worth the pain
According to The New York Times, Zuckerberg said that his company would invest over $3 billion in coming 10 years for a good virtual reality experience. Facebook would be paying $700 million for reinstating certain employees of Oculus. Also, the company has vouched to offer $300 million for achieving certain milestones.
The lawsuit is yet another thing to talk about here. Just a few months after this announcement of Facebook acquiring Oculus, ZeniMax Media filed a lawsuit against Oculus claiming that it has “stolen” a few technological elements meant for the creation of Oculus Rift headset. So, the lawsuit included Facebook apart from other parties.
Mr. Zuckerberg commented on the matter recently, saying that Facebook was 100% sure that Oculus products have been created on Oculus technology only.
While Facebook seems confident on the lawsuit, but if it loses this one, it will have to shell out an additional $2 billion.
What’s the plan for Facebook?
Facebook is ready for all the pain, simply because it is not eyeing it as a mere virtual reality for gaming. Mark Zuckerberg, while announcing Oculus had dropped hints for it. He said, “After games, we’re going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.”
So, if this is the plan and Facebook intends to amalgamate VR with socializing, it would be a huge thing and of course, will offer the customers, “new kinds of experiences.”