Oculus VR (simply known as Oculus) is an American technology company founded by Palmer Luckey and Brendan Iribe on June 2012 at Irvine, California and based in Menlo Park. It specializes in virtual reality and technology, as well as being a manufacturer of its products.
In the summer of 2012, Oculus announced the Rift, a virtual reality headset designed for video gaming, and created a Kickstarter campaign to fund development. The product proved successful, collecting around $10 million, and two pre-production models were released to the public: the "Development Kit" 1 and 2. The consumer product, which was released on March 28, 2016, refreshed the design and includes integrated headphones and an IR LED sensor.
In March 2014, Facebook CEO Mark Zuckerberg agreed to acquire Oculus for $2 billion in cash and stock, to the criticism of the media and game figures, such as Minecraft creator Markus Persson, who sold his company Mojang to Microsoft later at $2.5 billion. In 2015, Oculus acquired Surreal Vision, a British startup focused on 3D reconstruction and mixed reality, stating that it could be possible for Oculus to develop products with the concept of telepresence.
The company also partnered with Samsung to develop the Samsung Gear VR in November 2015, for the Samsung Galaxy models.
On 13 December 2016, it was announced that CEO Brendan Iribe will step down and after a restructuring at Oculus VR he will be responsible for the new created PC-based VR team. The also new created mobile VR team will be headed by Jon Thomason who has joined Oculus in summer 2016.