Facebook Engineering VP Cory Ondrejka, key in Oculus acquisition, to leave company

Ondrejka

Cory Ondrejka, Facebook’s Vice President of Engineering, announced Tuesday that he will leave the company on Dec. 22. Ondrejka led Facebook’s acquisition of Oculus, the virtual reality company the social network purchased earlier this year.

Ondrejka announced in a Facebook post that he’ll start his own company, but didn’t offer specifics:

December 22nd will be my last day at Facebook. From high-performance javascript through mobile to virtual reality, I could never have predicted a journey quite like this one. I will miss working with everyone, but I am excited about building my next company from scratch. More on that in a few weeks.

It has been a privilege to be a part of this company and community for the last 4 years and thrilling to work with so many amazing teams. Rather than break the tagger, I will just say that you all have pushed and taught me more than I could have imagined – and I can imagine a lot. I look forward to seeing what comes next because “we are 1% done” will be just as true in 2015 as it was the day I joined. No one has a greater opportunity and capability to continue connecting the world than Facebook.

(more…)

Facebook betting big on virtual reality: A look at the Oculus VR deal

Oculus_650

When Facebook bought Instagram for $1 billion back in 2012, industry experts believed the social media giant overpaid for the photo app. The same brand of thinking followed Facebook’s $19 billion acquisition of WhatsApp in February this year. Regarded as the tech deal of the century, industry opinion was split down the middle on whether the deal made any sense, or Facebook massively overpaid for WhatsApp.

And then in March, Facebook announced its plan to acquire Oculus VR, the maker of virtual-reality for $2 billion (the deal was approved by the FTC in May); the acquisition was completed in July. Needless to say, the deal evoked polarized reactions from the industry in general, Oculus’ Kickstarter backers and the stock markets.

This led to a fresh round of debates and discussions about Facebook’s penchant for making deals that don’t make immediate sense.  The keyword here is ‘immediate.’ Dig a little deeper and the acquisitions start making sense (at least people start to tell themselves that they make sense).

(more…)

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Assistant Editor

8 Inc.
New York, NY

Copywriter & Editor

GlobeOne
Santa Monica, CA

Director of Marketing & Communications

Neumans' Kitchen
New York, NY

Social Community Manager

VISIT FLORIDA
Tallahassee, FL

Editorial Director

Phoenix House
New York, NY

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us