The Oculus Rift is a virtual reality headset developed and manufactured by Oculus VR, released on March 28, 2016. Oculus proposed a Kickstarter campaign in 2012 to fund the Rift's development, after being founded as an independent company two months prior. The project proved successful, raising US$2.5 million from the campaign for the development of the product. In March 2014, Facebook purchased Oculus for $2 billion.