dropped $2 billion to acquire virtual reality platform Oculus in 2014.Unlike the company's other big acquisitions, Instagram ($1 billion in 2012) and WhatsApp ($19 billion in 2014), Oculus does not appear to be paying off. Although Oculus Gear VR headsets are practically handed out with Samsung smartphones, the company's more expensive Oculus Rift platform doesn't appear to have attracted any real following. According to market research firm Canalys, Facebook sold fewer than 400,000 units of the Oculus Rift last year, making it less popular than the competing HTC Vive and Sony PlayStation VR, the latter of which has already shipped more than 1 million units.
Anecdotally, it doesn't seem to be a hit either. I don't know anyone outside of the technology industry who owns one. I review gadgets and have a house full of toys, and yet I haven't found any need to buy one. I know people who own the PlayStation VR.