Facebook Actually Bought Oculus for $3 Billion (Not $2.
JANUARY 17, 2017
Facebook Actually Bought Oculus for $3 Billion (Not $2 Billion) In Dallas federal court on Tuesday, Zuckerberg took the stand to testify in the intellectual property lawsuit between Facebook-owned Oculus and ZeniMax Media, a company that previously employed a number of Oculus employees, including co-founder Palmer Luckey. ZeniMax alleges that Oculus created their Rift VR headset from misappropriated trade secrets. During Zuckerberg’s testimony, a ZeniMax attorney directly asked about the price Facebook paid for Oculus. Zuckerberg acknowledged the total consideration was about 50 percent higher than the “approximately $2 billion” announced in a March 2014 release. Facebook actually paid $3 billion, not $2 billion for Oculus. So what did this extra billion go to? According to New York Times reporter Mike Issac , Zuckerberg testified that on top of the $2 billion purchase price, $700 million was paid to keep key employees along with a $300 million earn-out based on key milestones. Read more here. facebook vr virtual reality