Facebook To Pay $2B For Virtual Reality Co. Oculus Rift

Law360, New York (March 25, 2014, 7:31 PM EDT) -- Facebook Inc. will put up $2 billion for Oculus Rift VR, a company developing a virtual reality headset for gaming and potentially for other applications, the social networking giant said Tuesday.

For now, the Oculus Rift virtual reality device, which consists of a bulky visor and a control box, is only for developers, though a consumer version is in the works for late 2014 or early 2015. The company had raised $93 million from a combination of Kickstarter and venture capital, including $75 million from venture...
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