Meta Acquires Singapore-Based Startup To Enhance AI-Capability For Undisclosed Sum

• Meta said in an announcement that the Manus agent will unlock opportunities for businesses across its products.
• Manus’ team will also join Meta’s but the company will continue to operate from Singapore.
• Meta said that it will continue to operate and sell the Manus service while also integrating it into its products including Meta AI and scaling the service to more businesses.

Meta Platforms (META) on Monday said that it has agreed to acquire Singapore-based tech startup Manus for an undisclosed sum.

Manus is focused on building a general-purpose AI agent designed to help users tackle research, automation, and complex tasks.

Why Is Meta Buying Manus?

Meta said in an announcement that the Manus will unlock opportunities for businesses across its products. The company’s autonomous general purpose agent can independently execute complex tasks like market research, coding, and data analysis, Meta added.

Meta said that it will continue to operate and sell the Manus service while also integrating it into its products and scaling the service to more businesses.

Manus’ team will also join Meta’s but the company will continue to operate from Singapore. It will also continue to sell and operate its product subscription service through its app and website.

“Joining Meta allows us to build on a stronger, more sustainable foundation without changing how Manus works or how decisions are made,” said Manus CEO Xiao Hong. The company said earlier this month that its annual run rate for revenue is over $125 million including usage-based and other revenue, merely eight months after launching its first general AI agent. Prior to the launch, it raised $75 million led by Benchmark.

META traded 0.3% lower after hours on Monday at the time of writing.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around META stayed within the ‘bearish’ territory over the past 24 hours, while message volume fell from ‘normal’ to ‘low’ levels.

META stock has gained 13% this year and by about 11% over the past 12 months. 

Also See: Tesla Supplier Reportedly Slashes Contract In Part Due To Lower-Than-Expected Cybertruck Demand

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