Meta Platforms Inc acquired Chinese-founded AI startup Manus for about $2 billion in December 2025 [1, 2, 3]. Manus had relocated its headquarters from China to Singapore in mid-2025, closing its China office and moving some staff to Singapore [2, 3].
Following the acquisition, China’s National Development and Reform Commission (NDRC) launched an investigation and in April 2026 officially rejected the deal, demanding the acquisition be unwound months after most of the transaction was completed [1, 2, 3]. The NDRC’s move came after meetings with Manus co-founders Xiao Hong, Ji Yichao, and Zhang Tao, who reportedly faced travel restrictions imposed by authorities in early 2026 [3].
The three co-founders are now discussing raising approximately $1 billion from external investors to buy back Manus [1, 2, 3]. They may also contribute their own funds to complete the repurchase if necessary [1, 2, 3]. If successful, Manus would be reestablished as a Chinese joint venture with those backers ahead of a planned Hong Kong initial public offering [1, 2, 3].
It remains unclear how Manus’s AI agent technology, much of which has been integrated into Meta’s systems, would be separated if the buyback proceeds [1, 2, 3]. Some investors have expressed interest in joining the repurchase, attracted by Manus’s projected $1 billion revenue for 2026 [1, 3].
Meta declined to comment on the buyback plans and a Manus spokesperson also did not respond to inquiries [1, 3]. A Meta spokesperson said the deal "fully complies with applicable laws" [2].
A key prior milestone was a $75 million funding round led by Benchmark in April 2025, before Meta’s acquisition announcement [2]. The acquisition and subsequent regulatory rejection have added uncertainty to the startup’s trajectory.
Documentation shows that as of today, May 21, 2026, Manus’s founders continue exploring the buyback, with discussions ongoing on how to proceed with outside funding [1, 2, 3].
