Meta Amplifies AI Capabilities with $2 Billion Acquisition of Manus
Meta Platforms, in a bold move to fortify its AI offerings, has successfully acquired Manus, a Singapore-based artificial intelligence startup renowned for its autonomous AI agent capabilities. The deal, valued at over $2 billion, signifies Meta’s aggressive strategy in the AI sector as it vies with competitors such as OpenAI and Google.
Originally founded in China before moving its base to Singapore, Manus unveiled its first general AI agent earlier this year. This AI agent is proficient in performing intricate tasks such as:
- Screening job candidates
- Planning vacations
- Analyzing stock portfolios
- Coding
- Conducting market research
The startup witnessed phenomenal growth, achieving an annual revenue run rate of over $125 million just eight months post-launch. Its service has garnered millions of subscribers globally.
The acquisition, which was finalized in roughly 10 days, will integrate Manus employees, including CEO Xiao Hong, into Meta’s AI divisions. Meta intends to use this acquisition to expedite AI innovation for businesses and incorporate advanced automation into its consumer and enterprise products, such as the Meta AI assistant.
Post-acquisition, Manus will cease all operations in China and disconnect from Chinese investors, thereby addressing potential regulatory issues. The company will continue to operate its subscription service while being assimilated into Meta’s expansive AI ecosystem.
Source: CNBC