Meta buys AI startup Manus, makes clarification on its ‘Chinese connection’; says: There will be no …
Facebook-parent Meta recently announced acquisition of Chinese-founded Artificial Intelligence (AI) startup Manus. Mark Zuckerberg-owned company did not disclose financial terms of the transaction, but a source with direct knowledge of the matter said that the deal values the Singapore-based company between $2 billion and $3 billion. Manus is backed by its parent Beijing-based Butterfly Effect Technology, and raised $75 million this year at a valuation of around $500 million. Its investors also include HSG, formerly known as Sequoia Capital China, ZhenFund and internet giant Tencent Holdings. Manus had an annual revenue run rate of $125 million earlier this year from selling its AI agent to businesses via subscriptions.
