Personal Finance
SNE

Facebook Inc. Hires One of Xiaomi's Top Execs as its VR Chief

Oculus Home is Facebook's VR answer to Google Play.

Facebook (NASDAQ: FB) recently hired Hugo Barra, the former international VP of Chinese smartphone giant Xiaomi , as its new virtual reality chief. The announcement came just a week after Barra abruptly left Xiaomi after heading its overseas expansion for three and half years.

Oculus Home is Facebook's VR answer to Google Play.

Oculus Home. Image source: Facebook.

Since Barra helped shape Android through its 3.0+ to 4.0+ incarnations, he could potentially help Oculus Home finally evolve into a full-fledged app ecosystem. That would widen its moat against Google, which is trying to establish its own next-gen VR ecosystem with its Daydream app. It would also build the foundations for a VR version of Facebook, in which users visit their friends in VR environments.

The key takeaway

Investors shouldn't assume that Barra's resignation from Xiaomi was due to its recent struggles, since he stated that his departure had more to do with his "health" and his desire to be closer to his friends and family in Silicon Valley.

They also shouldn't assume that Barra can turn Oculus Home into a formidable rival to Steam VR and Daydream. However, Barra's new position indicates that Facebook is serious about expanding Oculus as a new computing platform -- and rivals like Google should keep a close eye on that growth.

Find out why Facebookis one of the 10 best stocks to buy now

Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. (In fact, the newsletter they run, Motley Fool Stock Advisor, has tripled the market!*)

Tom and David just revealed their ten top stock picks for investors to buy right now. Facebook is on the list -- but there are nine others you may be overlooking.

Click here to get access to the full list!

*Stock Advisor returns as of January 4, 2017

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Leo Sun has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SNE FB R GOOGL L

Other Topics

Stocks

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More