Oculus co-founder Palmer Luckey’s time at Facebook is at an end. Three years after Facebook acquired Oculus for $2 billion Luckey is leaving the company.
Neither Luckey or Facebook have announced the exact reasons for his departure. Luckey has been the subject of a number of controversies over the past year. Recently a federal jury found that the Luckey and his co-founder Brendan Iribe had voted the IP rights of a the video game making company ZeniMax Media. The company was awarded damages of half a billion dollars. Lucky was ordered to pay $50 million himself.
Despite leaving the company 24 year old Luckey is unlikely to need to sign up for unemployment anytime soon. The acquisition of Oculus has seen build a fortune which Forbes estimated at $730 million. Palmer is also widely credited with being one of the major players in igniting the new round of interest in consumer virtual reality technology.
Palmers move to a star in the world of VR began in 2012. In April of that year that he developed the Rift, a VR headset which was designed for gaming. He then launched an uber successful Kickstarter campaign to develop the headsets. The campaign needed up raising $2.4 million which was ten times more than the original target of $250,000. In March 2014 Facebook acquired Oculus for $2.3 billion.
The concept of social VR has become central focus at Facebook. At the 2016 Oculus Connect conference, Facebook CEO Mark Zuckerberg presented the latest social VR prototype. While still in development it does show that Facebook sees a future where people will use the platform to remotely interact with friends and family.
While Luckey may have left Facebook, there is no indication that the social media giant is any less committed to its virtual reality future.