For sale? The AI Pin maker, Humane, might be looking for a buyer
Last year, the tech startup Humane dropped its first product, the AI Pin. This high-tech wearable, priced at $699, lets you snap photos, send texts, and even project a visual interface onto your palm using a laser projector. It includes a virtual assistant powered by ChatGPT 4 and aims to cut down on our reliance on traditional smartphones. But will it really?
Reportedly, the company is working with a financial advisor to help with the sale and is aiming for a sale price ranging from $750 million to $1 billion. But it's still early days, and there's no guarantee a deal will go through.
The AI Pin hit the shelves in April 2024, but it wasn't smooth sailing. Customers faced major issues like poor battery life, frequent overheating, and numerous software glitches. The company has acknowledged these problems and vowed to make improvements, particularly in areas like battery life, overheating, accuracy, and response time.
Back in 2018, Humane was launched by two former Apple pros, the power couple Imran Chaudhri and Bethany Bongiorno. Their goal? To create a cutting-edge, AI-powered gadget that could potentially rival the iPhone.
Humane's possible sale coincides with a trend of competitors ramping up their AI-hardware endeavors (seems like everyone's doing it these days, huh?). Earlier this year, AI startup Rabbit unveiled the R1, a $199 standalone AI gadget that acts as a digital assistant.
Meanwhile, Meta, the parent company of Facebook and Instagram, integrated AI into its Ray-Ban glasses. However, despite these efforts, none of the technology is anywhere near as mainstream as the smartphone, at least not yet.
AI startup Humane is now reportedly looking for buyers
The well-known media Bloomberg reports that, according to insiders, the AI startup Humane has been looking for a buyer. This news comes just weeks after its AI Pin got slammed with poor reviews following its launch.
Reportedly, the company is working with a financial advisor to help with the sale and is aiming for a sale price ranging from $750 million to $1 billion. But it's still early days, and there's no guarantee a deal will go through.
Hi everyone. We just shared details on our first update for Ai Pin and CosmOS. We've also outlined the major focus areas for continued improvement.
— Humane (@Humane) April 23, 2024
Priority Areas:
- Improving battery life and thermal management
- Reducing response latency
- Fine-tuning accuracy for a smoother…
It's not uncommon for startups to seek acquisition by larger companies, but the rapid pace of this move is raising eyebrows. That said, Humane hasn't officially confirmed its intention to sell the company – at least not yet.
Humane's possible sale coincides with a trend of competitors ramping up their AI-hardware endeavors (seems like everyone's doing it these days, huh?). Earlier this year, AI startup Rabbit unveiled the R1, a $199 standalone AI gadget that acts as a digital assistant.
Meanwhile, Meta, the parent company of Facebook and Instagram, integrated AI into its Ray-Ban glasses. However, despite these efforts, none of the technology is anywhere near as mainstream as the smartphone, at least not yet.
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