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Visionary or Looney? Zuckerberg on Spending Spree

Created: 03/26/2014 4:06 PM KSTP.com
By: Cassie Hart

Facebook's two biggest acquisitions yet are raising some eyebrows. Longtime technology analyst Roger Kay wonders whether Mark Zuckerberg "is nuts" for agreeing to pay $2 billion for virtual reality company Oculus less than five weeks after inking a deal to buy WhatsApp for $19 billion.
    
Other observers are calling the Facebook CEO visionary.
    
The company's latest purchase doesn't have a consumer product on the market yet.  Zuckerberg, though, sees long-term implications for Oculus' technology. He says the deal is "a long-term bet on the future of computing."
    
Facebook's investors seemed to think Oculus' promise is too far off. The Menlo Park, Calif.-based social networking company's stock fell 7 percent on Wednesday to close at $60.38.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
 

Photo: AP/Matt Rourke

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