Facebook is a fascinating business that continues to evolve and develop beyond more than just a social media site. Similar to Google, founder Mark Zuckerberg realises that the original business is arguably in the maturity stage of the product life cycle and it is now important how the business makes use of its cash cow product to invest in what it perceives to be the next big thing. Investments in Instagram and WhatsApp have proved profitable and added to the Facebook product portfolio, and the company is now attempting to make virtual reality (VR) a viable business by buying out Oculus VR — maker of the Rift headset — for $2.3 billion.
The Oculus Rift was created by Oculus founder Palmer Luckey, who developed the first prototype when he was 18 and used Kickstarter to fund much of the development.
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