Facebook’s $2B Oculus Deal Happened Over The Last Five Days


Facebook’s deal to buy Oculus VR for $2 billion happened relatively quickly and the negotiations were hammered out over the last five days during the industry’s Game Developer Conference in San Francisco, according to sources familiar with the deal.

Mark Zuckerberg had been by Oculus’s Southern California offices just once before to hang out earlier this year. He played with the company’s DK2, or second development kit.

Spark Capital and Matrix Partners, which co-led the company’s $16 million Series A round, and Andreessen Horowitz, which led the company’s $75 million Series B round, have an equal stake in the company, according to the source. We’re hearing from multiple sources that the IRR or the internal rate of return on this deal is one of the higher ones in venture history for the Series A investors.

Venture capitalist Marc Andreessen, who sits on Facebook’s board of directors, recused himself from the…

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