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The tech giant Meta has spent billions of dollars to acquire AI company Manus. This deal ranks third in Meta's history, only behind the acquisitions of WhatsApp and another leading AI company.
Founder Xiao Hong has many labels—he is a seasoned Bitcoin holder and led Manus to rapid expansion in less than three years. In the first half of this year, the company's annual recurring revenue surpassed $125 million, mainly driven by enterprise subscription services. This figure demonstrates that Manus's business model is beginning to show its strength and also explains why a giant like Meta was attracted to make a move.