San Francisco, California – A startup called Humane, known for its AI Pin wearable computer that received poor reviews, is now on the lookout for potential buyers. Recent reports suggest that the company, founded by former Apple employees Imran Chaudhri and Bethany Bongiorno, is seeking a sale price ranging between $750 million and $1 billion.
Despite its ambitious pricing, Humane faces challenges due to the negative reception of its $699 AI Pin device. Criticized for slow responses and a subpar user experience, the AI Pin failed to deliver on the founders’ promise of an always-on wearable AI assistant, aimed at reducing smartphone dependence.
Humane developed its own operating system, known as CosmOS, to power the AI Pin. The device uses a network of AI models to provide answers to voice queries and analyze images from its built-in camera. In some cases, a laser “display” is projected onto the wearer’s palm, requiring a monthly subscription to stay active.
Initially valued at $850 million by investors in 2023, Humane’s prospects took a hit following the negative reviews of its first product. While the AI Pin features some innovative concepts, its software shortcomings, including inconsistencies and battery issues, have soured its reception. Humane aims to address these challenges through firmware updates and the recent integration of OpenAI’s GPT-4o model to enhance the device’s capabilities.
The startup’s quest for potential buyers is further complicated by the competitive landscape. Tech giants like Amazon, Apple, Google, Meta, and Microsoft are heavily investing in AI technologies, making it uncertain how much value Humane’s intellectual property would add to their existing efforts. Despite its innovative ideas, Humane may struggle to find a suitor willing to meet its desired price tag in the current market environment.