WASHINGTON (dpa-AFX) - Humane, the company behind the recently released wearable chatbot Ai Pin, is actively seeking a buyer, according to Bloomberg.
According to Bloomberg's sources, the sale process of the company, which is currently valued between $750 million and $1 billion, is in its initial stages. Despite never publicly disclosing its valuation during funding rounds, a report from The Information last year estimated Humane's value at $850 million.
Established in 2017 by former Apple executives Bethany Bongiorno and Imran Chaudhri, Humane introduced Ai Pin in June, a wearable device featuring a projected display and AI capabilities. After a period of pre-orders in the U.S., the official launch of Ai Pin was delayed until mid-April due to pricing concerns.
Priced at $700 with a $24 monthly subscription for additional services, the Ai Pin faced challenges in a financially constrained consumer market, as noted by TechCrunch.
Furthermore, Humane's Chief Technology Officer Patrick Gates, an Apple veteran who joined in 2019, departed from the company in January along with 4% of the workforce. Amidst ongoing challenges, TechCrunch mentioned that Humane's decision to explore a sale does not come as a surprise.
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