"Mark Zuckerberg's Meta says it has agreed to acquire Manus, a fast-growing AI startup with Chinese roots now based in Singapore, in a deal valued at more than $2 billion, according to multiple reports. The latest move underscores two big trends: the massive scale of AI spending among Silicon Valley companies, and the geopolitical sensitivities around companies and startups founded in China."
"It started as a project from Butterfly Effect, a.k.a. Monica.im, a startup that was based in Beijing before it moved its headquarters to Singapore earlier this year as it looks to expand globally. Manus' AI agent, notably, can screen résumés, plan trips, analyze stock portfolios, and handle other multi‑step jobs with minimal human input, positioning it as a kind of virtual colleague rather than a simple chatbot."
Meta agreed to acquire Manus, a fast-growing AI startup with Chinese roots now based in Singapore, in a deal valued at more than $2 billion. Manus builds AI "agents" that perform complex multi-step digital tasks for consumers and businesses and can screen résumés, plan trips, analyze stock portfolios, and handle other workflows with minimal human input. Manus launched in 2022 from Butterfly Effect (Monica.im) and moved its headquarters from Beijing to Singapore as it expanded globally. Manus reported rapid revenue growth, claiming $100 million in annualized recurring revenue and a $125 million run rate, and was tested by Microsoft on Windows 11. The deal highlights large-scale AI spending and geopolitical sensitivities around China-founded startups.
Read at Fortune
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