Early Chinese investors in artificial intelligence startup Manus are planning to buy back Manus from Meta at the $2 billion price it originally paid, according to media reports citing two people with direct knowledge.
Early investors in Manus, including HSG, ZhenFund and Tencent, participated in the buyback, adding that HSG and ZhenFund were considering using the new funds to acquire Meta's stake in the startup. The report added that as of recent weeks, the company's annualized revenue run rate has surged to between $400 million and $500 million, compared with just $100 million at the time of Meta's acquisition.
Manus is reportedly considering overhauling its business structure and transforming it into a joint venture registered in China, paving the way for a listing on the Hong Kong stock market. Early investor Benchmark will not participate in Manus's share buyback process.
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