MiroMind, an AI start-up founded by Chinese entrepreneur Chen Tianqiao with core operations in Singapore, is suspending its offerings in mainland China, Hong Kong and Macau amid a restructure that follows Chinese regulators’ opposition to the $2 billion (£1.5bn) acquisition of start-up Manus by Facebook parent Meta Platforms.
The move by MiroMind to rework the structure of its international operations comes after mainland China officials in late April ordered Meta to unwind its buyout of Manus, which it carried out at the end of last year, creating new complexities for businesses that with links to China that want to do business abroad.
MiroMind told some customers via email last week that it would stop offering its MiroThinker services in markets including mainland China, Hong Kong and Macau from 12 May due to “business adjustments”, with no timeline given for resuming them, the Hong Kong-based South China Morning Post reported, citing a user in Beijing who received one of the emails.
China’s Ministry of Industry and Information Technology headquarters in Beijing, China. Image credit: MITT
International ‘complexity’
