The trio of founders behind Manus are gearing up to secure around USD 1 billion in external capital to facilitate a buyback of the company from Meta, valuing Manus at a minimum of USD 2-3 billion. Post-buyback, their strategy involves setting up a Chinese joint venture and paving the way for an initial public offering (IPO) on the Hong Kong Stock Exchange. The financing framework for this buyback is intricate, with the USD 1 billion covering only a fraction of the total purchase price. The balance will necessitate self-financing efforts from the founding team, coupled with reinvestment from the original shareholders.

Among the potential new investors are sizable state-owned industrial funds, social security funds, insurance capital, and even existing strategic investors. This buyback transcends a mere equity transaction; it encompasses the redefinition of boundaries concerning trade secrets, data, and intellectual property rights. The primary goal is to redirect the company's exit strategy from a 'U.S. dollar exit' to a 'Hong Kong stock exit.' This shift is motivated by the Hong Kong Stock Exchange's current high valuations for AI unicorns, with firms like Zhipu and MiniMax enjoying exceptional market capitalization performances.

Manus is projecting to achieve an annual recurring revenue (ARR) of USD 100 million by December 2025, signaling its swift expansion. Should these plans materialize successfully, the company could potentially go public on the Hong Kong Stock Exchange in the latter half of 2026. Original stakeholders, including ZhenFund and Sequoia Capital, are anticipated to secure a safe exit through this strategic maneuver.