Does Facebook Inc. Chief Executive Mark Zuckerberg have a shopping problem?
At the Mobile World Congress last month — right after agreeing to pay $19 billion in cash, common stock and restricted stock for the mobile-texting company WhatsApp — Zuckerberg said he was “done for a while.”
But on Tuesday, when Facebook announced that it agreed to buy Oculus VR, a developer of virtual-reality glasses, for $2 billion, investors got concerned again.
On the conference call with investors, Zuckerberg tried to portray each of these recent, high-valuation deals as extremely rare and not something that Facebook is going to embark on again in the next few months.
“I guess you should not expect us to make a couple of multi-billion-dollar acquisitions over the next couple of months,” Zuckerberg said. “There are not many candidates to be the next computing platform.”
Zuckerberg said that Oculus could turn out to be the next big computing and social platform, bringing friends and families together in a virtual world that is amazingly real and free of the jerkiness and headache-inducing quality that dogged virtual-reality systems of the past.
How can more kids get involved in science? Intel Science Talent Search finalists Kevin Lee and Soham Daga explain what they would do if they were in charge. Photo: Getty Images.
He said that the development kit created by Oculus has already led to some amazing uses of the company’s virtual-reality goggles, such has a teleporting app to visit far-away places.