Facebook Inc (NASDAQ:FB) has allowed Oculus VR to quickly scale says its co-founder and CEO Brendan Iribe in an interview with Bloomberg’s Brad Stone.
The comment from the Oculus VR top executive came at the sidelines of the Consumer Electronics show where Iribe was discussing his company’s demonstrations at the show, its future products and their new parent company which is Facebook Inc (NASDAQ:FB).
Facebook Inc (NASDAQ:FB) snapped up Oculus VR early last year for $2 billion. Mark Zuckerberg said at the time that Oculus VR is the leader in virtual reality technology and will help the world’s largest social media company develop new avenues of experience and communication.
“We’ve been able to recruit a lot more people, a lot quicker. It kind of supercharged our growth as an engineering company. We went from 50 to I think we’re over 250 people now, almost entirely developers. It’s been awesome to have that kind of growth, just ramp up really quickly,” he said.
Furthermore, Iribe said that Facebook Inc (NASDAQ:FB) has helped the company with its long term plans particularly its plans to build a platform and server architecture for virtual reality.
He said that the social media giant has hundreds of thousands of servers around the world. Because of this, he said that Oculus VR does not have to build a huge network of servers, something that a startup will put a lot of capital in if they are going at it alone.
Because Oculus VR has savings due to the synergies it has with Facebook, it can redirect capital to other research and development undertakings like the development of better optics and for their virtual reality products, Iribe implied.
Stephen Mandel’s Lone Pine Capital owned about 8.64 million Facebook Inc (NASDAQ:FB) shares by the end of the September quarter.