Facebook Shares Down Following Oculus Announcement


Facebook Shares Down Following Oculus Announcement
Investors don't seem as excited by virtual reality as Mark Zuckerberg

Facebook buying Oculus VR made some serious waves in the gaming and technology industries over the past few days, but it doesn't look as though Facebook investers seem quite as happy about the acquisition as some people, given the fact that the company's value has taken a 7% dive since the announcement.

Oculus, the company behind the hugely promising Rift VR headset, was purchased by Mark Zuckerberg's Facebook for a figure of around $2bn earlier this week - a deal said to have been closed in just three days - but it has since been the subject of much ire from the gaming community and those who backed its initial Kickstarter campaign a couple of years back.

The highest profile dissenter so far has been Markus "Notch" Persson, creator of Minecraft, who very publically announced that he was cancelling plans to bring the popular game to the Rift in the future, citing his distrust for Facebook. Persson also claimed that he hadn't put forward $10,000 of his own money to back the Rift Kickstarter just so that the company could make its founders rich through a sale to a major corporation like Facebook.

In the trading that followed the announcement, Facebook shares dropped a very significant 6.94%, closing at $60.38 ahead of the market re-opening today. Whether that trend will continue or not remains to be seen, but it definitely looks as though both Facebook and Rift have a lot of work to do to convince the world that this deal is in any way beneficial to anyone but those cashing in at Oculus.

Facebook Shares Down Following Oculus Announcement on ClickOnline.com
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