Meta adds $18 billion in value on report of $2 billion Manus acquisition

Frank Holland (Anchor) 00:00.000

I want to go point out one other name that was left off the Ives list. That was Meta and kind of opposite of Apple. They kept boosting their cap backs and spending when it get to Meta also acquiring an AI agent startup Manis in a bit to prove its AI capabilities beyond ads. Our

Frank Holland (Anchor) 00:14.240

McKenzie Segalos has all the details. Mac.

Mackenzie Sigalos (Technology Reporter) 00:17.360

Hey Frank. So Meta reportedly paying more than $2 billion dollars for Manis. A startup founded in China but now based in Singapore. It builds AI agents that businesses can use to offload work like basic web builds, competitive research customer analysis. The startup growing its

Mackenzie Sigalos (Technology Reporter) 00:32.800

revenue 20% plus month over month and giving Meta a real subscription line that it can point to as investors press for a payoff on its AI spending. Now those shares, while higher today on the news, are still lagging Alphabet and the broader tech sector year to date. So far this

Mackenzie Sigalos (Technology Reporter) 00:48.120

year, CEO Mark Zuckerberg has spent roughly $30 billion dollars on hiring according to DA Davidson's Gil Loria. And the push to prove ROI only intensified after Meta spent almost half of that in June to bring in Scale AI founder Alexander Wang to lead the effort. Investors are

Mackenzie Sigalos (Technology Reporter) 01:04.720

still waiting to see what exactly all that spending has delivered. One VC source put it bluntly, Meta is buying what it couldn't build fast enough. One of the few consumer AI apps up for sale with a view to beef up its business offerings and plug it into Meta's distribution

Mackenzie Sigalos (Technology Reporter) 01:20.720

across roughly 3 billion users. Frank.

Frank Holland (Anchor) 01:23.360

All right. McKenna Segal, this is the very latest on Meta. Meta shares up just about 1%. Mac, thank you very much. Good to see you.