Chan Zuckerberg Initiative to buy VC-backed AI startup Meta - PE Hub
Meta Inc, a Toronto big-data company that uses machine intelligence to solve core research information challenges, has agreed to be acquired by the Chan Zuckerberg Initiative. No financial terms were released. The acquisition is the first to be made by Chan Zuckerberg, a philanthropic organization launched in 2015 by Mark Zuckerberg and Dr. Priscilla Chan, TechCrunch reported. Meta was founded in 2010 by CEO Sam Molyneux and EVP Amy Molyneux. It was backed by Canadian venture capital firm iGan Partners, which led Meta's seed round in 2014, as well as Rho Canada Ventures, Solina Chau (Horizons Ventures), Everline Investments and angel investors.