Oculus VR developed the Oculus Rift virtual-reality headset.
Oculus VR was founded by Palmer Luckey and became known for reviving interest in consumer virtual reality through the Oculus Rift project. Facebook agreed to acquire the company in 2014, and the acquisition was completed later that year.
The Rift was a headset designed to display stereoscopic virtual-reality scenes and track the user’s head movement. Its development helped establish the Oculus brand before later products such as the standalone Quest line.
Reality Labs is the broader Meta division that now oversees virtual and augmented reality research and products. Oculus VR is therefore the specific subsidiary associated with developing the Rift, while Reality Labs is the later organizational name and broader business unit.