What virtual reality company did Facebook acquire in 2014?

Facebook acquired the virtual reality company Oculus VR in 2014. Facebook announced the agreement on March 25, 2014, describing Oculus as a leader in immersive virtual reality technology.

The deal was valued at approximately $2 billion, including $400 million in cash and about $1.6 billion in Facebook stock, with an additional earn-out tied to performance milestones. Oculus had attracted major attention through its Oculus Rift headset and a successful Kickstarter campaign in 2012.

Facebook said virtual reality could become a major platform for gaming, communication, education, and social experiences. The acquisition was initially controversial among some game developers, who worried that Facebook ownership could change Oculus's direction. Oculus later became part of Meta's broader virtual-reality strategy, including the Quest headset line.