Reports have emerged that Humane, the company behind the innovative Humane AI Pin, is looking for a buyer to acquire the company for $1 billion.
The decision to sell seems to be driven by the underwhelming response to their Humane AI Pin. The product has sold significantly fewer units than anticipated.
Upon its release, the Humane AI Pin garnered only about 10,000 orders, a stark contrast to the initial projection of 100,000 units for the year. Since its launch in April, the AI Pin has faced significant criticism, with many users finding it “not very useful” and “confusing” to use.
The Humane AI Pin is priced at $700, with an additional mandatory fee of $24 per month to activate 4G service. With only 10,000 units sold, Humane’s estimated revenue stands at approximately $7.24 million, not accounting for canceled orders.
There are indications that HP is among several companies that have been in discussions with Humane about the potential sale of the company, following the public release of various user reviews. However, the specifics of these discussions remain unclear.
