Most of us would think that virtual reality landscape will probably only function in the gaming arena. But in the eyes of Facebook’s CEO Mark Zuckerberg, he sees it as the next platform where social media will reign.
That idea motivated him to purchase the company at about $2 billion, where it gives the previous owners $400 million in cash, 23.1 million shares of Facebook’s common stock, as well as an additional $300 million should they meet arranged milestones.
At a joint statement Zuckerberg explained that Facebook is looking to adapt to new technologies which would allow them to stay dominant in the social media field and also work towards expansion to ensure profitability.
This explains the buyout of Oculus along with other companies such as text messaging pioneer ,Whatsapp, mobile app monitor startup, Little Eye Labs as well as fitness tracker app developer, ProtoGeo OY.
If you think that Oculus is putting to a stop in their virtual reality gaming plans, fret not. They are bought over as an individual entity and Facebook has no plans to step in any part of their corporate plans.
This gives them the full steam ahead to fight with Sony’s new pet toy, Project Morpheus. It will be a tough fight because Sony has an advantage – the headset is going to be compatible with Sony Playstation 4, which is already available in the market.
Will this be Facebook’s backup plan given that they are seeing a slowdown on the returns in their digital advertising arena? Or will they make their comeback via a new social media realm with Oculus?
Let’s hope that we can have our chance to move around in the virtual landscape like how Jake Sully did in the Avatar movie.