Market Chatter: Manus Mulls Funding Round to Undo Meta Acquisition-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Market Chatter: Manus Mulls Funding Round to Undo Meta Acquisition

MT Newswires05-22 12:30

The co-founders of Chinese artificial intelligence startup Manus are weighing options to comply with Beijing's orders to undo their acquisition by Meta, Bloomberg reported Thursday, citing people familiar with the matter.

Founders Xiao Hong, Ji Yichao, and Zhang Tao are discussing possibly raising about $1 billion from external investors, including a funding round, and chipping in their own money to at least match Meta's $2 billion acquisition price, Bloomberg said.

Once that is in place, the three founders could set up Manus as a Chinese joint venture with the backers of the funding round ahead of plans to list in Hong Kong, according to the news outlet.

The plans remain preliminary, the report said.

Manus and Meta did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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