December 30th — Meta has acquired AI app development firm Butterfly Effect for billions of dollars, according to a LatePost report. This is Meta’s third-largest acquisition since its founding, with spending second only to that on WhatsApp and ScaleAI. Prior to the deal, Butterfly Effect was in the middle of a new funding round with a $20 billion valuation. “I almost thought this was a fake offer,” said Liu Yuan, ZhenFund partner and Butterfly Effect angel investor. Negotiations wrapped up in just over 10 days. The founding team initially hesitated but was ultimately swayed by the terms and vision laid out by Meta founder and CEO Mark Zuckerberg. Zuckerberg and several top Meta executives are also loyal users of Butterfly Effect. Post-acquisition, Butterfly Effect will operate independently, with founder Xiao Hong serving as Meta’s Vice President.
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