How Zuck met Oculus: The story behind Facebook's big bet on virtual reality

Interesting read...

Mark Zuckerberg's acquisitions have a formula: They never, ever leak because they come together quickly. Facebook's (FB) $19 billion acquisition of WhatsApp, for example, was reportedly sealed over chocolate-covered strawberries on Valentines Day, and the deal announced four days later. One month after that, Facebook's $2 billion deal for Oculus VR was solidified over dinner at Zuckerberg's home. Within the week, the deal was done.

The wooing process for Oculus started last February when Mark Zuckerberg called CEO Brendan Iribe for a 10-minute chat. Zuckerberg asked Iribe what the "killer app" for the Oculus headset would be; Iribe told him it was gaming, but hinted that there would also be an opportunity to use virtual reality for communication. He pushed Zuckerberg to get a headset and demo, eventually flying up to Facebook's headquarters to show off Oculus' Crystal Cove prototype to Zuckerberg, Chris Cox, Facebook's vice president of product, and CTO Mike Schroepfer.

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