Oculus Backers Demand Their Money Back

Oculus VR's sale to social media megalith Facebook for $2 billion--which was completed in less than 72 hours--has led to a backlash from the company's Kickstarter backers, who feel betrayed and are looking for their piece of the pie.

"So where does one go to get their $300 back?" asks one backer on Kickstarter, "I'm not okay with my money being spent on technology that goes into the hands of Facebook." His sentiment is echoed by many of the campaign's 9,522 backers. Launched back in August 2012, the Oculus Rift Kickstarter promised backers "the first truly immersive virtual reality headset for video games," raising an unprecedented $2.4 million--nearly ten times the campaign's $250,000 goal. And the Oculus Rift has delivered on this promise, jump-starting a technological arms race that now includes Sony, Valve and Microsoft. 

But the backers' outcry has raised the question: Did Oculus VR owe its backers (over two thirds of whom paid $300 or more) anything beyond its initial promise of a prototype?

 At least in the minds of backers--yes. Hundreds of the company's original funders have taken to its Kickstarter page and the internet at large to bring attention to what they see as a betrayal of the relationship between backer and campaign. And given that Oculus VR has made around $830 for every dollar funded by Kickstarter, it's hard not to feel a little sympathetic. Many are calling for Oculus VR--or its new owner Facebook--to return their money, with some going so far as to suggest backers receive a percentage of the $2 billion based on the amount they donated to the Kickstarter.

 However, legally backers don't have much recourse for getting their money back, especially as Oculus VR delivered its promised prototype. As the recent story of Super Action Squad--a Kickstarter funded game which after two years of development issues has been put on indefinite hold--illustrated, much of the website's crowdfunding success relies on the good faith and optimism of backers, who have few options if a campaign doesn't deliver or worse, decides to take the money and run.

While the case of Oculus VR is far more murky--it's hard to make the case they mistreated backers when they delivered on all their promises--it's certain to go on an increasingly long list of reasons for future backers to be wary with their money, and even more so with their trust.