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Facebook “Investing more year over year” in Oculus VR

Oculus VR has dominated the virtual reality (VR) news recently with last weeks Oculus Connect 2 conference. During the keynote addresses on Thursday by CEO Brendan Iribe, Chief Scientist Michael Abrash and CTO John Carmack was a surprise appearance by Facebook founder Mark Zuckerburg. Facebook bought Oculus VR in 2014 for $2 Billion USD and has a multi-year plan of investment according to its Chief Technology Officer (CTO) Mike Schroepfer.

In an interview with the Financial Times at the conference, Schroepfer said: “We are investing more year over year?.?.?.?We’ve got a multiyear plan for this worked out over a fairly long time horizon.”

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The CTO didn’t give any figures on what they expected to spend, but did reiterate that it was a long term investment for the company. “When we started to get engaged in this, the big conversation we had was that this is going to take a long time and it will require a sustained commitment from us over many years, more like a decade, to really see this through and solve all the technical, content or artistic problems we need to solve. But if we can do this, it’s going to be the most interesting thing we’re ever going to work on,” Schroepfer said.

It’s core social networking experience is something Facebook’s “still figuring out” how to bring to VR says Schroepfer, and VRFocus will be monitoring the company’s progress as the launch of the Oculus Rift draws nearer.