Wearable AI brand Humane looking to sell, sources say

What you need to know

• Reports suggest that Humane, the AI wearable start-up, is looking for a potential buyer.
• The company’s AI pin started shipping to customers only about a month ago for $699 and an additional $24/month subscription + taxes and fees. 
• Sources close to the company said Humane is seeking a price between $750 million and $1 billion in a sale.

Humane, the company that owns the wearable AI pin, is now looking for a potential buyer, according to Bloomberg. “People familiar with the matter” told the publication that Humane is seeking a price between $750 million and $1 billion in a sale. However, the process seems to be in its initial stages and may not result in a deal. 

The same source told Bloomberg that “the company is working with a financial adviser to assist the potential sale.” The Information reported that investors valued Humane at $850 million last year. For now, the company has not publicly commented on the matter. 

Humane was founded in 2018 by two ex-Apple designers, Imran Chaudhri and Bethany Bongiorno. By 2023, they secured a massive $230 million, with some of their investors being OpenAI and Microsoft. Humane announced their AI Pin, a minimalistic magnetic, voice-controlled device with AI assistance that allows users to do everything from making calls to controlling music with vocal commands.

After months of creating a buzz about the laser-projecting wearable pin, Humane started shipping its devices in April this year for $699 and an additional $24/month subscription + taxes and fees.