The San Francisco-based company, which had raised $240 million from high-profile Silicon Valley investors, had only received around 10,000 orders for the Ai Pin as of early April, far short of the 100,000 it had hoped to sell this year. The company has also been dealing with employee departures and had to change its return policy due to cancelled orders. Additionally, it recently asked customers to stop using the Ai Pin charging case due to a fire risk associated with its battery.
Key takeaways:
- Humane's Ai Pin, a wearable device powered by artificial intelligence, received disappointing reviews, with some calling it 'totally broken' and 'the worst product I’ve ever reviewed.'
- Following the negative reviews, Humane began discussions with HP and other potential buyers about a possible sale of the company for over $1 billion.
- Humane had raised $240 million from investors and was valued at $1 billion, but the company has struggled with slow sales, employee departures, and a fire risk associated with the Ai Pin's battery.
- The company had received around 10,000 orders for the Ai Pin as of early April, far short of the 100,000 it hoped to sell this year.