scroll down

Oculus Rift Resources were Underestimated, Lost Money on Kickstarter

While we all understand the Kickstarter campaign that Oculus VR held for Oculus Rift had been a successful one, even raising $2.5 million didn’t do justice to the project. Even after successfully raising those funds, the developers managed to ‘grossly underestimate’ the resources and lost money.

These revelations were made by none other than Palmer Luckey the creator of the head mounted display set.

He was recently talking to

" target="_blank">Forbes where he said that the time, money and resources they thought they needed were not enough – the actual figures were way of their charts:

We lost money on the Kickstarter project overall just to be clear. Yeah, we grossly underestimated the amount of time and money and resources it takes to make thousands of something in a Chinese factory.

He does believe that something good came out of the whole Kickstarter funded money. The best thing he can put his finger on is the quality of developers that they now have. Obviously it was also an achievement that they were able to churn out a number of the first Oculus Rift development kits and share them with a lot of people.

About selling those initial developments kits to the users for a hefty amount, he mused that if they had sold it for, say, $1000 it would have earned them in millions but a much smaller number of people would have been able to see what it was:

There’d be a lot fewer people that have tried the Rift, that are building things for it, that are doing anything with it. And, you know, that doesn’t translate into billions of dollars of value, it translates into a couple million dollars.

Now we are well past all that and since Facebook’s acquisition of everything Oculus Rift, the developers have the magnanimous $2 billion sum! All we are waiting for is the consumer version of that thing to come out!