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Oculus Buyout Occurred in Three Days

Oculus Buyout Occurred in Three Days

With a company like Facebook (who literally has more money in one bank account than most can possibly envision) doesn’t need to waste time in long, drawn-out negotiations. They see what they want and take it!

Such was the case with the recent buy-out of the Oculus Rift VR tech, as it was recently revealed that from start to finish, the deal took just 72 hours. CEO Brendan Iribe now talks about how the event went down in such a short period of time. “We got the deal done with Facebook in three days. That’s how accelerated it was. We locked ourselves up in the Facebook HQ and did the deal. I have been through a few of these deals now and they usually take months. This was done in three days. That’s incredible. That’s their commitment to moving fast. We are moving fast and getting together to make the next computing platform.” he states.

While the outcry of selling off the grass-roots funded project (with many people screaming that their finical support was intended for indie development and not a corporate conglomerate like Facebook), Iribe says that it was Facebook founder Mark Zuckerberg who spear-headed the sale (citing his interest in VR). “…He was fascinated like other people in the geek community, or gaming community. He was really excited…He saw the latest demos. We talked about the vision. The whole thing was about getting more comfortable with each other…then he asked, ‘How can I help? How can Facebook help you.” Says Iribe.

While many are yet uncertain what the sale will mean for both Facebook and the Oculus, we will continue to cover the details (and the community backlash) as it unfolds.

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