mark-zuckerberg

Facebook plans to invest more than $3 billion in VR

VR revolution is considered to have accelerated the world of AR and VR. Facebook’s CEO Mark Zuckerberg is now looking forward to boot up its platform by bringing VR revolution. He is considering virtual reality as a future computing platform that his company can possibly own. He is completely aware of the fact that it’s a long process and will at least 5 to 10 years to make it available to everyone.

For a VR company acquired in March 2014, Zuckerberg recently affirmed a $2 billion lawsuit surrounding the origins of Oculus. An exceptional opportunity was given to the members of the press to get a closer view into the future of Facebook’s virtual reality goals. The claim that oculus attained information from former ZeniMax employee and the existing CTO John Carmack that was helpful for the creation of the company’s core technology is at the heart of the case.

Zuckerberg himself announced that the company will most probably will be investing more than $3 billion over the next decade for bringing VR to the masses. Zuckerberg has already invested a lot for its VR game. He affirmed that before the acquisition, then-Oculus CEO Brenden Iribe asked for $4 billion for the VR Company.

On a $2 billion purchase price, the deal actually settled between Facebook and Oculus. Along with the price it also settled $700 million in employee retention and $300 million in milestones. All these statistics confirm Zuckerberg’s devotion for Facebook to strengthen its grasp on the virtual reality industry.

Via: Tech Crunch

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