Meta Acquires Chinese AI Startup Manus for Billions in Third-Largest Deal
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Meta has acquired Chinese AI startup Butterfly Effect, developer of the AI agent Manus, for a multi-billion dollar sum, marking its third-largest acquisition after WhatsApp and Scale AI. Founded in 2022, the deal was finalized in about ten days. Xiao Hong, the founder, will become Vice President at Meta while the startup operates independently. Manus, which achieved $100 million in Annual Recurring Revenue, was previously valued at $2 billion and had received a $30 million offer from ByteDance.
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