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Facebook Buys Virtual Reality Company Oculus For $2 Billion

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AP Photo / Joerg Koch

Oculus makes the Oculus Rift, a virtual reality headset that's received a lot of attention from video game developers, though it's yet to be released. Facebook says that while applications for virtual reality technology beyond gaming are "nascent," it plans to extend it to other uses. These include communications, media, entertainment and education.

The purchase follows Facebook's $19 billion deal to purchase messaging startup WhatsApp last month.

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