Facebook

Facebook

Facebook is a social media and social networking service company founded in 2004 by Mark Zuckerberg, Chris Hughes, Andrew McCollum, Dustin Moskovitz, Eduardo Saverin, Lee Linden and Ankur Pansari.

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Dawson Sewell
Dawson Sewell edited on 31 Aug, 2020
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Acquisitions

Notable acquisitions

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Oculus

In July 2014 Facebook announced acquiring Oculus, a company making virtual reality products, for $2 billion. Facebook paid $400 million in cash and approximately $1.6 billion in Facebook stock. Facebook also announced offering an additional $300 million in stock and cash if certain milestones are met by the company post-acquisition as performance incentives. The $2 billion acquisition price of Oculus is based on a trading price of Facebook stock at $69.35 per share. Mark Zuckerberg, the CEO and co-founder of Facebook, made the following comments regarding Facebook's decision to acquire Oculus and Facebook's plan for the company:

We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.
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