Humane, the company founded by former Apple employees Imran Chaudhri and Bethany Bongiorno, has been hogging limelight attention for less favourable reasons following the launch of its wearable AI Pin. The AI Pin, a wearable AI computer designed to offer features through a laser projection system priced at $699, has failed to impress critics since its launch.
In light of these negative reviews, Humane is reportedly exploring the possibility of selling its business to a potential buyer. Rumours have circulated that the AI startup is actively seeking a buyer for its AI Pin business. Reports from The New York Times indicate that discussions have taken place with tech giant HP regarding a potential acquisition deal surpassing $1 billion. This development follows earlier reports from both Bloomberg and The New York Times suggesting that the struggling company is seeking a sale price ranging between $750 million and $1 billion.
Further compounding these issues, The Times reports that a senior software engineer was reportedly fired by Humane in February for questioning the AI Pin’s readiness for launch. This firing was allegedly said to be a violation of the company's policy prohibiting employees from speaking negatively about Humane.
Reports say current and former employees have revealed that Chaudhri and Bongiorno overlooked warnings about the technical limitations like poor battery life and high-power consumption of the AI Pin. Despite addressing these concerns, they prioritised positivity over constructive criticism and aimed to sell 100,000 units in its first year. However, this approach did not bode well for the company, and they received around 10,000 orders for the AI Pin as of early April.
During an interview with The New York Times, Bongiorno acknowledged the challenges faced by the AI Pin, stating, “You don’t know everything before you launch.” Meanwhile, Chaudhri expressed regret, mentioning that they wished they could have handled some issues differently.
Meanwhile, the fate of the AI Pin and reports regarding whether HP will ultimately acquire Humane remain uncertain especially at such a high valuation for a company that has barely hit the ground.
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