Oculus VR is an American virtual reality technology company founded by Palmer Luckey and Brendan Iribe, founded in June 2012 at Irvine, California. In the summer of 2012, Oculus announced the Oculus Rift, a virtual reality head-mounted display designed for video gaming, and created a Kickstarter campaign to fund development. The product proved highly successful, collecting around $10 million for development, and released two pre-production models to the public: the "Development Kit 1" and the "Development Kit 2". The consumer product, which was released on March 28, 2016, includes integrated headphones, a refreshed design, an available tracked controller system, and an IR LED sensor. In March 2014, Facebook's CEO Mark Zuckerberg agreed to acquire Oculus for $2 billion, in cash and Facebook stock, to the criticism of many news reports and game figures, such as Minecraft creator, Markus Persson. In 2015, Oculus acquired Surreal Vision, a British start-up focusing on 3D reconstruction and mixed reality, stating that it could be possible for Oculus to develop products with the concept of telepresence.
"In the past, before phones and the Internet, all communication was face-to-face. Now, most of it is digital, via emails and messaging services. If people were to start using virtual reality, it would almost come full circle."