Humane, the startup that was worth a billion… before selling herself to HP for 116 million

Humane, known for its AI Pin, promised to revolutionize human-machine interaction. Designed as a connected pin, this device displayed information via a miniature laser projector and operated by voice. However, despite the innovation, the AI Pin failed to convince. Its lack of distinctive features compared to smartphones limited its adoption, plunging the company into a negative financial spiral.

Faced with disappointing sales and massive returns, Humane sought buyers as early as 2024, hoping for a valuation of between $750 million and $1 billion. Ultimately, the startup was sold for a much lower sum, $116 million, with HP as the buyer. that this investment would accelerate the creation of an intelligent ecosystem connecting computers, printers and connected conference rooms.

A key element of this acquisition is the integration of Humane's CosmOS AI platform, as well as more than 300 patents. In addition, HP is absorbing Humane's engineering team under a new division called HP IQ, dedicated to AI innovation.

End of the AI Pin and consequences for users

The acquisition by HP marks the definitive end of the AI Pin. Starting February 28, 2025, devices will lose their connection to Humane's servers, rendering their functionality inoperable. Humane has warned its customers to download their data before this date or risk losing it permanently.

On the refund side, only purchases made within 90 days prior to the closure are eligible for a return. Active subscriptions after February 28 will be refunded pro rata. In addition, customers who ordered a replacement for their charging case will automatically be refunded.

Uncertain future for former Humane employees

Despite the business failure, the Humane team remains strategically valuable. Founders Imran Chaudhri and Bethany Bongiorno will play a key role within HP IQ, bringing their expertise in connected device design and AI.

HP hopes to leverage this acquisition to advance its technological ambitions by integrating AI-powered solutions into its existing and future portfolio.