Oculus is the most successful project ever on Kickstarter


Its not been even two years since Oculus – a virtual reality headset – has come out of its Kickstarter campaign, and the company has ended in doing a USD 2 billion deal with Facebook.

This makes Oculus, the biggest gainer ever for any Kickstarter project. The nearest comparison here would be Pebble smartwatch, which raised more than USD 10 million on its kickstarter project and later raised USD 15 million in series A funding round.

Oculus VR had earlier raised over USD 93 million from its kickstarter campaign and the two funding rounds.

Oculus VR builds virtual reality technology making company. Its first product Oculus Rift is a virtual reality headset, which when put on, takes the user to a completely immersive computer-generated environment, like a game or a movie scene or a place far away.

“I am excited to announce that we’ve agreed to acquire Oculus VR, the leader in virtual reality technology,” announced Mark Zuckerberg in a blog post.

He further said that the company will run as an independent identity just like its other acquired companies like Instagram and WhatsApp. “We’re going to focus on helping Oculus build out their product and develop partnerships to support more games,”  he added.

Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform. The transaction is expected to close in the second quarter of 2014.

 The author can be reached at devesh@iamwire.com