In brief: Humane, the maker of the wearable Ai Pin device that was slated by reviewers when it launched last month, is looking for someone to buy its business. According to reports, the company is seeking a buyer willing to pay what sounds like a very optimistic $750 million to $1 billion for the firm, which has released just one product.
Humane, founded in 2018 by iPhone alumni Imran Chaudhri and Bethany Bongiorno, hailed the Ai Pin as a technical marvel following its announcement in November 2023. The screenless, square device can be attached to clothing and features a camera, microphone, a touch pad, and a laser projector that displays the GUI on a user’s hand. The Ai Pin can also make calls and send and receive text messages. All this for just $700 per month plus a $24 per month subscription charge.
The buzz around the Ai Pin helped Human raise $240 million from investors that included OpenAI CEO Sam Altman. Last year, it was valued at $850 million by investors, though that was obviously before its first product arrived to a universal panning.
The Ai Pin failed to live up to the hype – by a long way. Reviews ranged from shoulder shrugs to absolutely scathing. Tech tuber Marques Brownlee called it the worst product he’s ever reviewed, which led to an online debate over ethics and influence.
Bloomberg now reports that Humane is looking for a buyer and is working with a financial adviser to assist it, according to people who asked not to be identified. The process is still in its early phases and may not result in a deal, especially if Humane wants $1 billion, one would imagine.
At that price, a list of potential buyers is going to be small, limited to large companies already entrenched in the AI space: Microsoft, Google, Amazon, etc., but it’s hard to imagine any of them would consider such a massive outlay a sound investment.
The Humane Ai Pin wasn’t the only AI-powered digital assistant device that attracted massive levels of hype before arriving to poor reviews. The Rabbit R1, which was so popular at CES that 10,000 units were sold in pre-orders, also launched to a wave of mediocrity.
