Facebook now owns Oculus. The $2 billion acquisition deal of the virtual reality pioneer announced in March has been approved by regulators and today become official. The FCC’s anti-trust team greenlighted the deal in April. Now it has passed the California Department Of Corporations fairness hearing and will go into effect. The exact price of the acquisition came out to $2,001,985,000.
The VR startup still plans to operate somewhat independently and maintain its main offices in the Irvine and Los Angeles areas. “We’re looking forward to an exciting future together, building the next computing platform and reimagining the way people communicate,” the companies said in a joint statement.
Along with the $400 million in cash and roughly $1.6 billion in stock that Facebook paid for Oculus, an additional $300 million in cash and stock incentives will be awarded to Oculus if it hits certain milestones. The $1.6 billion in stock was based on a $69.35 share price average from the 20 trading days preceding March 21.
Wall Street initially balked at the deal, with Facebook’s share price sinking from $64.89 to $60.38 in the day after the acquisition was announced. $FB would fall as low as $56.75 but has since recovered to close at $69.40.
“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,” Facebook CEO Mark Zuckerberg said at the time of the initial announcement. So beyond playing first-person shooters and flying spaceships, Oculus could reinvent meetings, messaging, social events and more. We’ll see in September when Oculus reveals what it’s been working on at its first Oculus Connect conference.
Techcrunch event
San Francisco | October 13-15, 2026
Josh Constine is a Venture Partner at ~$3 billion AUM early-stage VC fund SignalFire where he invests in pre-seed startups with a focus on consumer. He teaches startup pitch writing and fundraising strategy as a recurring lecturer at the Stanford Graduate School Of Business, and with accelerators like Z Fellows, Inception Studios, and Stanford ASES. Previously, Constine was Editor-At-Large for TechCrunch where he wrote 4000 articles and was ranked the #1 most cited tech journalist in the world from 2016-2020 by Techmeme. Constine has led 300+ on-stage interviews and keynotes in 18 countries with luminaries including Mark Zuckerberg and the CEOs of Shopify, DoorDash, Snapchat, Instagram, and more. Constine graduated from Stanford University with a Master’s degree he designed in Cybersociology, and wrote his thesis in 2008 on why remixable memes would be the future of marketing. He has been quoted in the NYT and WSJ, is regularly featured on CNN for his thoughts on AI and Silicon Valley, and advises startups on PR, fundraising, and organic growth.