Facebook paid $3 billion for Oculus

Facebook CEO Mark Zuckerberg has revealed in court that his company paid $3 billion for Oculus.

In March 2014, Facebook announced it would acquire virtual reality company Oculus for $2 billion.

The acquisition gave Facebook a foothold in the wearable devices arena and was the company’s first hardware deal.

“Oculus has the chance to create the most social platform ever and change the way we work, play, and communicate,” said Zuckerberg at the time.

The Facebook CEO has now revealed that the deal included an extra $700 million to retain staff and another $300 million earn-out for hitting milestones.

This brought the selling price to $3 billion.

Now read: Facebook buys virtual reality headset maker Oculus VR for R21.4 billion

Latest news

Partner Content

Show comments

Recommended

Share this article
Facebook paid $3 billion for Oculus