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Facebook Spent Over $88M This Year on Oculus’ Seattle Area Satellite HQ

ZenbaneZenbane Posts: 12,091 Power Poster
edited July 13 in General

Some fantastic news in regards to Facebook's ongoing commitment to VR:

Oculus has been on quite the hiring spree as of late, with over a hundred positions currently advertised on the company’s career website aimed at bringing hardware and software engineers into the Seattle area. Now, a report from real estate analysis firm BuildZoom estimates parent company Facebook has spent over $88 million in Redmond-based labs and office space for Oculus this year alone.

Overall, the firm maintains Facebook has spent more than $106 million on Redmond-based labs and offices since it began its expansion into the Seattle area back in July 2015, with the $88.3 million of it spent in 2018 so far.

Speaking to Road to VR earlier this year regarding its recent VR/AR hiring spree, an Oculus spokesperson said this: “Overall, the growing number of job openings across AR and VR are an indication of the level of commitment that Facebook/Oculus is making in the VR space.”

So it appears Facebook is putting both feet forward as they continue investment in Oculus, bringing more dedicated VR/AR labs and offices to what’s quickly become America’s next big tech hub.

https://www.roadtovr.com/facebook-spent-88m-year-oculus-seattle-area-satellite-hq/


:)

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Comments

  • Hiro_Protag0nistHiro_Protag0nist Posts: 4,514 Valuable Player
    Pretty cool info!
  • LZoltowskiLZoltowski Posts: 6,341 Volunteer Moderator
    Jesus $88 million for JUST real-estate? I can't imagine what their R&D budget is .... holy cow. This is Zuckerberg level of money right here.
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  • ZenbaneZenbane Posts: 12,091 Power Poster
    Jesus $88 million for JUST real-estate? I can't imagine what their R&D budget is .... holy cow. This is Zuckerberg level of money right here.

    Exactly. The article mentions that these dollar amounts aren't even all-encompassing,


    BuildZoom includes some healthy caveats in their estimations, which could put the final cost at a higher sum: building permits don’t reflect all of the project’s costs, and the quoted amounts are “minimum estimates and may not include permits for demolition work, temporary structures, FF&E, engineering, or other public infrastructure improvements.”

    Additionally, the firm says the data “may not be exhaustive and is based on what has been made available by the City of Redmond, Washington.”


    Mark Z is the third richest person on the entire planet. That's some good backing for a high-end Tech product and service!
    Are you a fan of the Myst games? Check out my Mod at http://www.mystrock.com/
    Catch me on Twitter: twitter.com/zenbane
  • LZoltowskiLZoltowski Posts: 6,341 Volunteer Moderator
    Yeah, he said he is here for the long game with VR, this level of expansion and investment must mean that the R&D department is already hiding some true sci-fi level tech that is on the roadmap. Can't wait for OC in Sept!
    Core i7-7700k @ 4.9 Ghz | 32 GB DDR4 Corsair Vengeance @ 3000Mhz | 2x 1TB Samsung Evo | 2x 4GB WD Black
    ASUS MAXIMUS IX HERO | MSI AERO GTX 1080 OC @ 2000Mhz | Corsair Carbide Series 400C White (RGB FTW!) 

    Be kind to one another :)
  • snowdogsnowdog Posts: 5,175 Power Poster
    Jesus $88 million for JUST real-estate? I can't imagine what their R&D budget is .... holy cow. This is Zuckerberg level of money right here.

    Yup. $88m is chicken feed to me. I don't get out of bed in the morning for less than $100m and wipe my arse with C Notes. B)

    M Zuckerberg, biatches :D
    "This you have to understand. There's only one way to hurt a man who's lost everything. Give him back something broken."

    Thomas Covenant, Unbeliever
  • dburnedburne Posts: 1,580
    Project 2501
    Nice to see this level of commitment from FB for Oculus!
    Don

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