Manus, through its parent company Butterfly Effect, said it has completed a new funding round worth more than $500 million. The round was led by Boyu Capital and IDG Capital, with existing investors Tencent, Sequoia China, and ZhenFund also participating. The financing comes after a previously reported Meta acquisition was reversed earlier this year.
According to the input, Meta had agreed to acquire Manus late last year for about $2 billion. In April, regulators ordered the deal to be unwound. Tencent and other existing shareholders then took part in a buyback, and Manus resumed independent operations in September. Bloomberg and The Wall Street Journal had previously reported that the company was seeking a valuation of about $4 billion in the new round, roughly double the approximately $2 billion buyback valuation tied to the canceled Meta transaction. Manus did not disclose a final valuation in its announcement.
The company is also considering changes to its corporate structure as it prepares for a possible Hong Kong listing, though that plan has not been officially confirmed.
Butterfly Effect, the parent company of Manus, said it has completed a new funding round of more than $500 million. Boyu Capital and IDG Capital led the round, while existing investors Tencent, Sequoia China, and ZhenFund continued to back the company.
Meta acquisition was later reversed
According to the input, Manus had been acquired by Meta late last year in a deal reportedly valued at about $2 billion. In April this year, regulators ordered the transaction to be unwound. Tencent and other existing shareholders later joined a buyback, and Manus resumed independent operations in September.
Reported target valuation reached about $4 billion
Bloomberg and The Wall Street Journal had previously reported that Manus was seeking a valuation of about $4 billion in this financing round, double the roughly $2 billion buyback valuation tied to the canceled Meta deal. Manus did not disclose a final valuation in its latest announcement.
Hong Kong listing plan remains unconfirmed
The company is also considering adjustments to its corporate structure as it prepares for a possible listing in Hong Kong. That plan has not been officially confirmed.
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