Your Favourite Tech Company Just Got Acquired by Facebook
When I woke up this morning, I checked Facebook as usual. It just happens that Mark Zuckerberg just posted an announcement on his wall that Oculus VR will be joining Facebook. The reaction from so many people are really bad. This Reddit thread from a month ago is now full of people swearing at Facebook and Zuckerberg.
Somehow, I feel quite confident about Facebook’s acquisition of Oculus VR. We all have been traumatised by tech companies acquiring other small startups and then making them stop doing cool stuff. Remember Sparrow, Tweetie, and Bump?
But the last few years has been quite different. Especially for startups that are not controlled by the investors to maximise profit and minimise unprofitable products. Sometimes, getting acquired is the best option. If Yahoo did not buy Tumblr, I don’t know what things they would do to get enough revenue to pay their employees. Maybe sooner or later they’ll have to display ads, but it’s good that Yahoo can take care of them for now. What we don’t know is what’d happen to them if they didn’t get acquired, and we always think that this scenario is better than getting acquired.
I would also love for startups like Everpix to get acquired by someone else. If Apple or Facebook acquired Everpix before they shut down, I’m pretty sure they will have enough to go on before they can be profitable by themselves. Now there’s no more Everpix, we just can’t use the product at all. If this happens to Oculus VR, I would be more disappointed than if Facebook apps are developed for Oculus Rift1.
Now, look at what Facebook has acquired over the past few years. Look at Parse. Look at Instagram. Are they still the products you want to use before they got acquired by Facebook? I think so. In fact, I think Facebook’s track record is much better than Google at this point. Google shut down companies they acquire very fast. We’ll see what they’ll do with Nest and Waze, but history says they’ll shut it down. That’s not the case with Facebook.
Or God forbid, Facebook login is now required to use Oculus products. ↩