on , for approximately $2 billion . The transaction was officially finalized and closed on July 21, 2014 . Deal Structure The roughly $2 billion deal consisted of: $400 million in cash.
At the time of the announcement, Oculus was a 20-month-old startup that had gained fame through a successful Kickstarter campaign for its headset. Mark Zuckerberg described the acquisition as a strategic move to secure the "next major computing platform" after mobile, envisioning virtual reality as a future social and communication hub. Facebook to Acquire Oculus - About Meta
of Facebook common stock, then valued at about $1.6 billion .
Facebook announced its agreement to acquire Go to product viewer dialog for this item.
An additional "earn-out" in cash and stock if Oculus met certain performance milestones. Strategic Context
