Humane, the startup behind the criticized AI wearable computer Pin, is already looking for a potential buyer for his business. According to a Bloomberg report, the company – led by former Apple employees Imran Chaudhri and Bethany Bongiorno – is seeking a valuation of between $750 million and $1 billion.
A launch below expectations
The AI Pin, sold for $699, received negative reviews due to its slow responses and a user experience that falls short of the promise of an always-on, wearable AI assistant. The product was presented as a way to reduce addiction growing from smartphones and to allow users to be more present.
Humane developed its own operating system called CosmOS for the AI Pin, which connects to a network of AI models to answer voice questions and analyze what the built-in camera captures. For some interactions, the device projects a laser “display” onto the palm of the user’s hand. To use it, however, you need a monthly subscription to keep the device active.
The future and potential buyers
According to Bloomberg report, Humane has raised $230 million from investors, including OpenAI CEO Sam Altman, which is said to be developing an unrelated product in collaboration with legendary Apple designer Jony Ive. Humane was valued at $850 million by investors in 2023, before its first product received universal criticism.
While there are innovative ideas in the device, the AI Pin’s software is still immature and too inconsistent, and the hardware has shown battery life and overheating issues. Humane has promised to fix some of these bugs with firmware updates, and just last week, implemented OpenAI’s GPT-4o model to further improve the intelligence of the device.
The list of potential buyers for Humane seems rather small considering the asking price. Amazon, Apple, Google, Meta, and Microsoft are all making significant progress in the field of artificial intelligence, with language models and generative AI increasingly prevalent. However, it’s unclear how much value Humane’s intellectual property could actually bring to their ongoing efforts.
