Major Turnaround in Manus Acquisition: Tencent Reportedly Steps In
2 day ago / Read about 0 minute
Author:小编   

According to a report by foreign media outlet The Information, Manus's early Chinese investors, including Tencent, Sequoia China, and ZhenFund, plan to repurchase the company's equity from Meta at a price of $2 billion—the same amount Meta paid in its acquisition last December. Despite a significant increase in Manus's revenue following its acquisition by Meta, with its annualized revenue run rate surging from $100 million to $400-500 million, the Chinese investors have decided to proceed with the repurchase at the original price. Sequoia China and ZhenFund will utilize a new funding pool to complete the buyback, with Tencent also participating, while U.S. venture capital firm Benchmark has chosen to exit. After the repurchase, the Chinese investors are expected to gain a larger equity stake. Additionally, Manus is considering restructuring into a domestic joint venture to pave the way for a future IPO in Hong Kong.