According to CoinMeta, AI startup Manus successfully raised over $500 million in financing after the Chinese government blocked Meta's attempt to acquire it for about $2 billion. Its parent company, Butterfly Effect, confirmed this round of financing on WeChat, with Boyu Capital and IDG leading the investment. Existing investors Tencent, Sequoia China (HSG), and ZhenFund also participated. Manus focuses on developing AI agents that can autonomously perform tasks such as booking trips and analyzing stocks. Launched in March 2025, the company became a competitive option in China with an agent fee of $200 per month, and its invitation codes were sold at prices as high as 10 million RMB (about $1.3 million) in the reselling market. In mid-2025, the company moved its team to Singapore, closed most of its Chinese operations, and laid off dozens of employees in July. By December, the company had achieved annual recurring revenue of $100 million.