Meta Platforms Inc. has agreed to acquire Singapore-based AI startup Manus, which makes an artificial intelligence agent that it sells to small and medium-sized businesses.
The deal is part of a broader push by Meta to build a business around its massive AI investment, which has captured the focus of Chief Executive Officer Mark Zuckerberg and become the company’s top priority. Manus, which had an annual revenue run rate of $125 million earlier this year, sells its agent via a subscription service, which could give Meta a more immediate return on some of its AI investment. No financial terms were released.
The parent company behind Manus, which was founded in China before moving to Singapore, also raised money earlier this year at close to a $500 million valuation from a collection of investors, including the venture capital firm Benchmark.
Manus released an AI agent earlier this year that could complete a handful of general tasks, including screening resumes, creating trip itineraries and analyzing stocks in response to basic instructions.
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