Oculus co-founder joins executive exodus at Facebook

Brendan Iribe, co-founder of Oculus and CEO of Facebook's VR department, becomes the latest startup acquisition founder to leave the company


In the most recent blow in its rockiest year to date, Facebook has experienced yet another high-profile resignation after Brendan Iribe, co-founder of Oculus and CEO of the company's VR department, announced he was leaving the company.

The announcement followed internal shake-ups in Facebook's VR department which has seen the dissolution of the next generation Rift 2 PC-powered VR headset. Iribe's decision amplifies the social media giant's declining interest in developing all-in-one headsets requiring an external PC or phone.

Oculus was founded in 2012 and acquired by Facebook in 2014, so Facebook could focus on VR development.

"So much has happened since the day we founded Oculus in July 2012," stated Iribe in a public Facebook post. "I never could have imagined how much we would accomplish and how far we would come. And now, after six incredible years, I am moving on.

Visit Innovation Enterprise's HR & Workforce Analytics Innovation Summit in Chicago on October 30–31, 2018

"I'm deeply proud and grateful for all that we've done together," he added. "We assembled one of the greatest research and engineering teams in history, delivered the first step of true virtual presence with Oculus Rift and Touch, and inspired an entirely new industry. We started a revolution that will change the world in ways we can't even envision."

Iribe is the latest in a number of Facebook's high-profile startup acquisition founders to leave the company. Oculus's other co-founder Palmer Luckey left the company in 2017 and WhatsApp co-founder Jan Koum resigned earlier this year. Last month, Instagram co-founders Kevin Systrom and Mike Krieger left Facebook amid rumors of tension between them and Mark Zuckerberg.

Following a difficult year filled with countless public scandals, it was recently revealed that the company has lost 30% of its value since July. Late last week, several prominent shareholders demanded that Zuckerberg step down as chairman following widespread criticism of his leadership and in response to the recent controversies.

Ibm has lost 12  of its value in 2018 small

Read next:

IBM has lost 12% of its value in 2018