Facebook Inc (NASDAQ:FB) was on the right path when they purchased Oculus VR last July for $2 billion that included $400 million in cash as well as 23.1 million shares of Facebook common stock.
The deal has been widely criticized by many who see Virtual Reality as some far off pie in the sky idea that will never catch on to the mainstream and will bring little real value to Facebook if any.
There are plenty of others who view Oculus VR as Facebook’s most important acquisition, more important than Instagram or Whatsapp because Oculus VR is the technology that could revolutionize the way we interact with technology, change the ways in which we communicate and most importantly for Facebook; change the way we use Facebook.
The Oculus Rift project originally gained prominence on Kickstarter where it was the most successful project of all time raising $2 million back in 2012. The Company then went on to raise another $91 million in venture capital funding in 2013.
Facebook Inc (NASDAQ:FB) acquisition of Oculus VR gave them the Oculus Rift Virtual Reality headset; lighter and more powerful than previous VR headsets, the Oculus Rift permits total immersion in virtual scenes. Users can walk around, explore the scene and use all forms of interaction that have been provided by the designers.
Clearly this technology is in the early stages but as its importance grows it could evolve very quickly; Oculus has made great strides between its first and second Development Kits and further improvements are expected as the company plans to release the long-awaited consumer version of the Oculus Rift sometime in 2015.
In anticipation of the release 75,000 people have already placed orders for the Rift which will retail at $350. Mark Zuckerberg recently tried it, and he described the experience as entirely “unique.” He also saw vast opportunities to make the experience far more social and potentially even practical.
We will be updating on the Oculous VR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Oculus and Facebook.
Now let’s imagine the possibilities; Virtual reality in its most fantasized form could blur the line between what is real and what is not. It could transplant you into another world where anything is possible and there are no limitations; you could throw the winning touchdown and take the prom queen home afterwards.
In more practical terms Virtual Reality could revolutionize any number of industries; it is widely considered the future of gaming and is already well known among gamers, who use it to immerse themselves into a virtual simulation of a game world.
Another obvious use would be communication; imagine sitting down on a bench in a beautiful garden with your loved one who lives on the other side of the world? Certainly a much more personal and gratifying experience then speaking with them on the phone.
Online dating is another industry that could be transformed by Virtual reality; no more time lost on 1st dates with someone you are not sure off, with VR you could go on a virtual date, spend some time with them virtually to see if you felt comfortable to go the next step and meet physically.
Of course the possibilities for shopping are endless; Zuckerberg said “Imagine going shopping in a virtual store just by putting on goggles in your own home.
The way we use and interact with technology could evolve and change significantly in the coming years and Facebooks acquisition of Oculus VR shows that Mark Zuckerberg see’s Virtual Reality as the next platform in the evolution of computer technology.
Mark Zuckerberg said it best himself ”there aren’t many things that have the potential to be the next big computing platform,” he added. “Oculus has the potential to be the most social platform ever. Immersive, virtual and augmented reality will be part of people’s daily lives.” We will be updating on the Oculus VR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Oculus and Facebook.
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Disclosure: we hold no position in FB either long or short and we have not been compensated for this article.