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Facebook purchase of Oculus VR should help virtual reality grow

Facebook's acquisition of Oculus VR made some people nervous, but supporters are anxious to see how the market matures in the near future.

Published Sun, Apr 6 2014 4:20 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Modern virtual reality is still in its infancy, and social networking company Facebook hopes its $2 billion acquisition of Oculus VR will help usher VR technology into the future. The buyout initially raised alarm, but news also excited virtual reality supporters, anxious for large companies and mainstream users to pay attention to the budding technology.

Facebook purchase of Oculus VR should help virtual reality grow | TweakTown.com

The Facebook team has been left intact and the social media company doesn't plan to rebrand Oculus VR - or the company's Oculus Rift - which could be made available to consumers before the end of the year.

Facebook's acquisition of Oculus immediately raised concern, though company founder Palmer Luckey previously addressed the issue. Keeping the company at its Irvine office in southern California allows Facebook-owned Oculus to remain close both to video game studios and Hollywood.

It's not just Oculus, but other VR startups are trying to determine whether they want to open up shop in Silicon Valley, or head to Los Angeles:

"Being so close to Hollywood and having such a strong network in the film industry and the games industry, it's really a fantastic place to explore a whole new medium," said James Iliff, Survivos co-founder, a SoCal startup manufacturing VR hardware and software.

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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