Oculus VR

Oculus VR is an American virtual reality technology company founded by Palmer Luckey and Brendan Iribe. Their first product, still in development, is the Oculus Rift, a head-mounted display for immersive technology virtual reality (VR). In March 2014, Facebook agreed to acquire Oculus VR for US$2 billion in cash and Facebook stock.

History

As a head-mounted display (HMD) designer at the University of Southern California Institute for Creative Technologies, Palmer Luckey earned a reputation for having the largest personal collection of HMDs in the world, and was a longtime moderator in Meant to be Seen (MTBS)'s discussion forums.

Through MTBS' forums, Palmer developed the idea of creating a new head-mounted display that was both more effective than what is currently on the market, and inexpensive for gamers. To develop the new product, Luckey founded Oculus VR with Scaleform co-founders Brendan Iribe and Michael Antonov, engineer Jack McCauley, Nate Mitchell and Andrew Scott Reisse.