Oculus co-founder joins Facebook's list of acquisition departures

Facebook is losing another long-tenured founder from an acquired company: Brendan Iribe, who was the chief executive officer of Oculus VR when Facebook bought it in 2014.

"This will be the first real break I've taken in over 20 years," Iribe wrote on his Facebook page, without giving a specific reason for his departure. "It's time to recharge, reflect and be creative."

Iribe was most recently the vice president of computer-tethered virtual reality. His departure comes shortly after the founders of Instagram and the CEO of WhatsApp also left the Facebook-controlled units. The purchase of Instagram, for $715 million in 2012, demonstrated that Facebook, as a parent company, could successfully keep an acquired company independent and under the leadership of its founders. That helped lure WhatsApp, for $22 billion, and Oculus, for $2 billion, both in 2014.

Continue reading at AdAge.com



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