Luckey launches a Kickstarter campaign for the Oculus Rift, a VR headset prototype he has been developing. The campaign surpasses its $250,000 goal in hours, eventually raising over $2.4 million. This validates the potential of VR and provides crucial funding for Oculus VR.

Following the successful Kickstarter campaign, Luckey and the newly formed Oculus VR team focus on refining the Oculus Rift prototype. They release development kits (DK1 and DK2) to developers, gathering feedback and building a VR ecosystem.

Facebook acquires Oculus VR for approximately $2 billion in cash and stock. This acquisition provides Oculus with significant resources to further develop the Oculus Rift and other VR technologies. The acquisition is initially met with mixed reactions from the VR community, with some expressing concern about Facebook's influence.

The first consumer version of the Oculus Rift is released. This marks a major milestone for the VR industry, bringing high-quality VR experiences to a wider audience. The Rift is praised for its immersive visuals and tracking capabilities.

Palmer Luckey leaves Facebook/Oculus VR. The departure is linked to controversy surrounding his financial support of a pro-Donald Trump political organization that created and distributed internet memes during the 2016 U.S. presidential election. Facebook stated his departure was not based on political views.