On May 21, Bloomberg reported that the co-founders of the AI agent Manus are studying options to cancel the Meta acquisition transaction, which includes raising approximately US$1 billion from external investors to buy back the AI business founded in China.
Manus
According to people familiar with the matter, the three founders of Manus, Xiao Hong, Ji Yichao and Zhang Tao, are negotiating for a round of financing at a valuation that is at least equivalent to the US$2 billion Meta paid for Manus. They may fund the remainder of the deal out of their own pocket. If they move forward with this plan, the next step will be to restructure Manus into a Chinese joint venture with investors, followed by an initial public offering (IPO) in Hong Kong, China.
With Manus expected to generate about $1 billion in revenue this year, some investors have expressed interest in participating in buybacks, people familiar with the matter said.
However, people familiar with the matter also said that these plans are still in the preliminary stage, discussions around Manus’s valuation are still changing, and the three founders may ultimately decide not to move forward with the plan. People familiar with the matter said there are still some hurdles that need to be resolved. It's unclear how the new owners will divest Manus of its AI agent technology, much of which has been integrated into Meta's systems.
As of press time, Meta and Manus have yet to comment.