Media365
Industry observers said the acquisition was made possible by two key developments: Manus’ progress in building a globally competitive general AI agent and the founders’ decision to relocate the business abroad.
Launched in Wuhan, the capital of central Hubei province, the start-up led by Xiao Hong severed its China links and moved its headquarters to Singapore in July, a step that helped it tap overseas capital and markets.
The multibillion-dollar price tag paid by Meta has instantly elevated the start-up into the top tier of China-linked AI successes by exit value.
By comparison, Zhipu AI – one of China’s best-known AI start-ups – was expected to raise about US$560 million in a Hong Kong listing, while MiniMax is likely to seek roughly US$538 million, according to market expectations.
