"Meta Chief Executive Officer Mark Zuckerberg has made AI his company's top priority, and is spending billions to hire researchers, build data centers and develop new models. Manus, which had an annual revenue run rate of $125 million earlier this year, sells an AI agent to businesses via a subscription service, which could give Meta a more immediate return on some of its AI investment."
"The parent company behind Manus, which was founded in China before moving to Singapore, raised money earlier this year at close to a $500 million valuation in an investment round led by US venture capital firm Benchmark. Benchmark was criticized at the time by lawmakers and other venture investors for backing an AI company with ties to China."
"Manus released its product earlier this year, an AI agent that can complete a handful of general tasks, including screening resumes, creating trip itineraries and analyzing stocks in response to basic instructions. Meta has an AI chatbot, Meta AI, which is available through the company's social media and messaging platforms Facebook, Instagram and WhatsApp in addition to its AI glasses."
Meta Platforms acquired Singapore-based AI startup Manus, obtaining its AI agent product and leadership team. Manus had an annual revenue run rate of $125 million and sells an AI agent to businesses via subscription. The parent company was founded in China and relocated to Singapore, raising funds at close to a $500 million valuation in a round led by Benchmark. Benchmark faced criticism for backing a company with China ties. Manus's agent handles tasks such as screening resumes, creating trip itineraries and analyzing stocks. Meta continues heavy AI investment, hiring researchers and building infrastructure, with financial terms undisclosed.
Read at www.mercurynews.com
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