Facebook/Oculus Deal Gets FTC ApprovalBy: Josh Wolford - April 23, 2014
The Federal Trade Commission has given the thumbs up to the $2 billion deal which sees social media giant Facebook acquiring nascent virtual reality company Oculus VR.
The U.S. regulatory agency granted the transaction, clearing it of any possible antitrust concerns.
Facebook announced their intentions to purchase Oculus VR, makers of the Oculus Rift virtual reality headset, late last month.
“This is really a new communication platform. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures,” said Zuckerberg at the time of the announcement.
The deal was not met with celebration from early Oculus supporters, many of whom felt cheated. Oculus Rift was basically launched via a Kickstarter campaign, and many who donated their hard-earned money to the virtual reality device felt (and still feel, I’m sure), betrayed when the company sold out to Facebook–especially for such a hefty figure.
Plus, all that jazz about “sharing” makes people nervous.
In one of the more public displays of defiance, Notch famously canceled the idea of Minecraft on the Oculus Rift the day after Facebook announced the acquisition. The reason? Facebook simply “creeps” him out.
Supporters of the deal argue that it would give Oculus a massive boost in resources to build their products.
Like it or not, it’s happening. Oculus VR isn’t the only billions-dollar purchase Facebook has made in recent months. The company also acquired messaging company WhatsApp for $19 billion. WhatsApp just crossed the 500 million user mark.
Image via OculusVR.com