Facebook Shares Drop after $2 Billion Oculus Purchase

Mar 27, 2014 12:19 PM EDT | Jordan Ecarma

Facebook's unexpected $2 billion purchase of Oculus may have cost the social network a little more on Wednesday.

Company shares fell 6.94 percent by closing, the drop leaving Facebook shares at $60.38, GameSpot reported. The figure had fallen slightly more to $60.16 at press time on Thursday.

The unusual decision to acquire a virtual gaming headset company could lead to big things for Facebook in the future, but for now the company seems to be dealing with a backlash from the gaming community.

Brought to life through a 2012 Kickstarter campaign, Oculus has developed a virtual reality device that could be a major contender in the growing wearables market. But some of the project's 9,522 backers don't seem thrilled about Mark Zuckerberg's purchase.

"I feel cheated," Kickstarter user Grant Wilkinson said on the site's comments page, as reported by CBS News. "I backed a vision of what I wanted gaming to be in the future. Now all I want is my money back."

Oculus founder Palmer Luckey has talked about the purchase on Reddit, fielding questions from gamers.

"Facebook is going to give us access to massive resources, but let us operate independently on our own vision. There are so many things we can do that used to be impossible," Luckey wrote, as reported by CBS NEws.

"Facebook [also] has a good track record on open hardware and software, which is great for us. We want to make our hardware and software even more open than they already are, and they are totally cool with that."

The Oculus team also posted an official statement regarding the Facebook acquisition on the company blog, saying Oculus joined Facebook "to create the best virtual reality platform in the world."

Despite the market drop and some backlash, the unexpected buy will benefit both companies, according to a CNNMoney report.

Facebook gets the chance to expand beyond social media into the burgeoning market for wearable technology, while Oculus gains access to Facebook's vast resources.

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