Facebook has been given the go-ahead from the Federal Trade Commission to purchase virtual reality start-up Oculus VR Inc. (via Reuters). CEO Mark Zuckerberg announced Facebook’s plan to buy Oculus on March 25 for $2 billion as part of an effort to plant the company’s flag early on “the platforms of tomorrow.”
The Oculus purchase is Facebook’s first foray into hardware, and it has generated a considerable amount of backlash from the company’s Kickstarter backer community, including a high-profile withdrawal of support from Minecraft creator Marcus “Notch” Persson. The FTC and Department of Justice’s approval may be the final nail in the coffin for held-out hopes that the deal may collapse.
This comes close on the tail of Facebook’s announced purchase of messaging service WhatsApp in February for $1 billion, much like their much-discussed purchase of Instagram in 2012 for another $1 billion. In addition to buying up technologies further and further afield from the social network’s original purpose, Facebook has also announced sinister-sounding ambitions to bring the Internet to everyone using “drones, satellites, and lasers.”
- Zuckerberg to tell Congress that Instagram, WhatsApp needed Facebook to succeed
- Zuckerberg wrote Facebook can ‘just buy any competitive startups’
- Tech CEO Congressional Hearing: Recap of the biggest moments you missed
- Jayapal accuses Facebook of threatening to clone Instagram before buying it
- TikTok beware: Legacy tech owners can spell trouble for trendy sites