Facebook Buying Streak Continues
First Facebook bought Instagram for $1 billion, then Whatsapp for $19 billion, now Oculus Rift, a Virtual Reality company.
Some Facebook users are scratching their heads with this purchase, but this is not the horrible virtual reality system of the early 90's.
Mark Zuckerberg, creator of Facebook posted “The incredible thing about the technology is that you feel like you’re actually present in another place with other people. People who try it say it’s different from anything they’ve ever experienced in their lives.” about Oculus Rift.
The purchase includes $400 million in cash and $1.6 billion in Facebook stock at current market value.
We will see if Facebook's most recent acquisition is a homerun or a swing and a miss.