Manus co-founders Xiao Hong, Ji Yichao, and Zhang Tao are weighing a roughly $1B raise from outside investors to buy back the AI agent startup from Meta after China's National Development and Reform Commission ordered the $2B+ acquisition unwound last month, according to Bloomberg and Reuters. The target valuation for the round would be set at or above the more than $2B Meta paid, with any gap potentially filled by personal funds from the founders, and a successful buyback could eventually lead to a Hong Kong IPO with Manus reorganized as a Chinese joint venture. The buyback faces major practical challenges since the money has already been transferred, Manus employees have joined Meta, and Manus's technology has been woven into Meta's infrastructure with no clear path for separation, though Manus's projected $1B in revenue for the current year has been enough to attract interest from potential backers.
