FROM

Huffpost Technology

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Facebook’s stepping into the world of virtual reality.

The company announced on Tuesday afternoon it has reached a deal to acquire Oculus VR, a company paving new roads in the field, for $2 billion. The deal is comprised of $400 million in cash and 23.1 million shares of Facebook stock.

Oculus VR’s flagship product is the virtual reality goggles known as the Oculus Rift, which was first funded through a massively successful Kickstarter campaign. It has already received more than 75,000 orders for development kits.

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oculus rift
A prototype of the Oculus Rift, pictured above. 
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