❯ Manus Reportedly Seeks About $500 Million at a $4 Billion Valuation After Resuming Independent Operations

RepricedBloomberg and The Wall Street Journal reported that AI-agent company Manus is discussing a financing of about $500 million at a target valuation of roughly $4 billion. The talks come shortly after its planned Meta transaction was unwound and independent operations resumed. Founders and existing investors including Tencent, HSG and ZhenFund had bought back the shares at about a $2 billion valuation.

Eightfold in a YearManus raised $75 million at a valuation of about $500 million in spring 2025, making the proposed new valuation an eightfold increase in a little over a year. Reports citing Caixin put annual recurring revenue at about $400 million by the end of June, up from more than $100 million late last year. That is a run rate, not full-year recognized revenue.

Deal AftermathThe Meta deal, regulatory intervention, unwind and share buyback sent Manus through an unusually circular capital path. A new round would replenish cash for compute, sales and product partnerships, while leaving Manus to fund distribution and infrastructure that Meta might have supplied. The round is reportedly near completion, but terms could still change.

Proof RequiredA $4 billion valuation puts revenue velocity and independent delivery on the same scorecard. Manus must show that recent growth was not a temporary deal-related surge and turn agent workload into renewals and margin. Otherwise, doubling the valuation merely brings the next test forward.

▪ SIGNALOutside Meta, Manus’s most valuable asset is whether its roughly $400 million revenue run rate can become durable, renewable business.