homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

April 3, 2014

Crowdfunding backlash after Oculus deal

  • Outrage on the Oculus Kickstarter page after its $2 billion sale to Facebook highlights one of the pitfalls of seeking donations through social media.
  • By JOSEPH PISANI
    AP Business Writer

    NEW YORK — When Oliver Housknecht gave virtual reality headset maker Oculus VR $25 through crowdfunding website Kickstarter two years ago, he wanted to help a startup grow into a larger, independent company. Instead, Oculus became part of one.

    Housknecht was shocked last week when Oculus announced it was selling itself to social media company Facebook for $2 billion. He was one of many backers who helped it raise more than $2.4 million through Kickstarter in 2012.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.