China's Manus founders seek US$1 billion to undo Meta takeover, Bloomberg News reports

Manus co-founders are weighing ways to comply with China’s order to unwind Meta’s US$2 billion-plus (HK$15.7 billion) acquisition of the AI startup, Bloomberg News reported on Thursday.

Founders Xiao Hong, Ji Yichao and Zhang Tao are exploring options, including raising about US$1 billion from external investors to buy their way back, the report said citing people familiar with the matter.

They are discussing a funding round that would value the company at a level to match what Meta paid to buy Singapore-based Manus, the report added.

Reuters could not immediately verify the report. Manus did not immediately respond to Reuters’ request for comment.

The founders may put in their own capital to bridge any gap, the report said.

Such a move could turn Manus into a joint venture with the potential backers and lead to an initial public offering in Hong Kong.

Meta had announced the acquisition late December to expand advanced AI integration across its platforms. China soon launched a review into whether the deal violated investment rules and barred two Manus co-founders from leaving the country.

Last month, Beijing ordered California-based Meta to unwind the buyout amid tighter scrutiny of US investments in advanced domestic tech firms as US-China tech tensions grow.

Manus develops general-purpose AI agents that can function as digital employees, independently carrying out tasks such as research and automation with minimal human input.

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓