It’s hard to imagine a market more forgotten or dead than virtual reality before Oculus. It is a testament to the power one start-up can have, and the magic of this particular founding team, that virtual reality is now a movement developing into an industry.
In August of 2012, Oculus launched a Kickstarter campaign to make virtual reality headsets available to developers. As soon as we got a chance to try a prototype Rift for the first time, our decision was unanimous: a hardware product this seminal is rare and we have to be involved. We were happy to be able to partner with Oculus at the Series A moments after that meeting.
In March 2014, Facebook CEO Mark Zuckerberg agreed to acquire Oculus VR for $2.3 billion in cash and stock.