It seems like Facebook wants to be everywhere these days. They recently purchased messaging app WhatsApp for $16 billion and just this week have decided to acquire Oculus Rift, a Virtual Reality firm for $2 billion. The deal is currently pending regulatory approval but includes $400 million in cash and 23.1 million common shares of Facebook, valued at $1.6 billion, as well as an additional $300 million assuming Facebook reaches certain milestones. According to a statement released by Facebook CEO Mark Zuckerberg "Oculus has the chance to create the most social platform ever." That being said, what is Oculus anyways? And while we're at it, what's Virtual Reality even? Virtual Reality, sometimes referred to as "immersive multimedia" or "artificial reality", is a way to transport the user to another place using sights and sounds. It can be conveyed on just a computer screen using 3D images and sound or even a headset like the Oculus Rift. The Oculus, which is still in development stages, is a virtual reality head-mounded display with a 7" screen that gives the user a 90 degree view and tracks head positioning with little to no lag. The Oculus was brought to us by a then 19-year-old Palmer Luckey and began with a Kickstarter that raised an impressive $250,000 within 4 hours of the announcement and in less than 36 hours the campaign had surpassed $1 million in funding. It's been an underground gaming phenomenon for a while now. The creator of MineCraft was even working with Oculus for a VR version of the game until the news that Facebook was going to be purchasing it came out. The creator, Markus "Notch" Persson was even quoted on twitter as saying "I just cancelled that deal. Facebook creeps me out." "Imagine not just sharing moments with friends online but entire experiences." was another quote from Zuckerbergs' statement. There are so many theories about where this deal could go sprouting online, share yours in the comments below.