Reality Labs

Reality Labs is a business of Meta Platforms that produces virtual reality (VR) and augmented reality (AR) hardware and software, including virtual reality headsets such as Quest, and metaverse platforms such as Horizon Worlds. Reality Labs is the corporate successor to Oculus, a company that was founded in 2012 by Palmer Luckey, Brendan Iribe, Michael Antonov and Nate Mitchell to develop a VR headset for video gaming known as the Oculus Rift. Before the acquisition, Oculus raised over $2.4 million for the project via a crowdfunding campaign on Kickstarter—nearly ten times the original goal of $250,000.