Meta Platforms Acquires AI Startup Manus for $200 Million
Meta Platforms, the parent company of Facebook and Instagram, announced its acquisition of Singapore-based AI startup Manus for $200 million. Founded by Chinese entrepreneurs, Manus specializes in developing autonomous AI agents capable of independently executing complex tasks such as market research, coding, and data analysis. The exceptional talent from Manus will join Meta’s team to offer general-purpose agents for consumers and businesses, including Meta AI, led by Mark Zuckerberg.
Manus has already surpassed $8 million in annual recurring revenue (ARR) just eight months after its launch, with total revenue exceeding $125 million and a 20% monthly growth rate since the release of Manus 1.5.
Walmart Experiences Technical Difficulties Affecting Mobile Ordering Tools
Meanwhile, Walmart faced technical issues on Tuesday morning that prevented many users from accessing the company’s mobile ordering tools. According to reports from Downdetector and Bloomberg, over 6,000 users encountered problems accessing Walmart’s application or website around 7:00 a.m. in New York. Approximately 70% of the issues were related to the mobile app, while about a quarter pointed to website problems.
The Wall Street Journal also reported more than 6,500 users experienced disruptions, with most mentioning issues with Walmart’s mobile app. However, problems diminished approximately one hour later, suggesting they had been resolved.
Hyatt Hotels Sells Portfolio of Playa Hotels & Resorts for $2 Billion
Hyatt Hotels announced the sale of its Playa Hotels & Resorts portfolio in Mexico, the Dominican Republic, and Jamaica to Tortuga Resorts for $2 billion. Hyatt could receive an additional $143 million if certain milestones are met and has retained $200 million in preferred equity in Tortuga, as per a press release.
Hyatt and Tortuga also signed 50-year management agreements for almost all properties in the portfolio. Due to damages caused by Hurricane Melissa in October 2025, seven properties in Jamaica will remain closed until the fourth quarter of 2026. Furthermore, Hyatt reduced its adjusted EBITDA forecast for Playa for the entire year 2025 by $10 million, at the midpoint of the guidance range, according to a report.
Utility Company Pacific Gas & Electric to Lower Rates in California
Pacific Gas & Electric, owned by PG&E (PCG), plans to cut electricity rates in California for the fourth time in two years, starting Friday. The 5% reduction in residential electricity rates means average customers will pay around $7 less per month. This translates to a $20 monthly saving for the average household, as electricity rates will be 11% lower than in January.
Key Questions and Answers
- What is the main news? Meta Platforms acquired AI startup Manus for $200 million, Walmart experienced technical issues affecting mobile ordering tools, Hyatt sold its Playa Hotels & Resorts portfolio for $2 billion, and Pacific Gas & Electric announced a 5% reduction in California electricity rates.
- Who is Meta Platforms, and why is this acquisition significant? Meta Platforms is the parent company of Facebook and Instagram. This acquisition signifies Meta’s commitment to expanding its AI capabilities, aiming to develop autonomous agents for various applications.
- What were the technical issues faced by Walmart? Users encountered problems accessing Walmart’s mobile app and website, preventing them from using the company’s mobile ordering tools.
- Why did Hyatt sell its Playa Hotels & Resorts portfolio, and what are the details of the sale? Hyatt sold its Playa Hotels & Resorts portfolio in Mexico, the Dominican Republic, and Jamaica to Tortuga Resorts for $2 billion. The sale includes 50-year management agreements for almost all properties, with seven Jamaican properties remaining closed until late 2026 due to hurricane damage.
- What changes will Pacific Gas & Electric implement in California electricity rates? Pacific Gas & Electric will reduce residential electricity rates by 5%, resulting in approximately $7 monthly savings for average customers.
