HP Acquires Humane, Creator of Ai Pin, for $116 Million Involving 300 Patents and Former Employees

The Ai Pin, a product hailed as the next big thing, ultimately fell victim to its own hype. Priced at $699, this pocket-sized device was deemed ‘dead on arrival, ’ prompting significant losses for Humane Technology. With its lackluster performance leading to diminished consumer interest, the company has become a prime target for acquisition. Recently, HP has stepped in, reportedly acquiring key assets from Humane, which encompass approximately 300 patents and the majority of its workforce. However, this transaction marks the end of the Ai Pin’s journey, with no future prospect for the device.

HP Acquires Humane: The Ai Pin Is Officially Discontinued

Humane, co-founded by former Apple employees, sought a valuation between $750 million and $1 billion. However, pitching a struggling product like the Ai Pin failed to attract buyers willing to pay a premium, revealing the challenges in acquiring a venture harboring a product with limited appeal. According to reports from Bloomberg, HP has successfully closed the deal for $116 million, yet the acquisition does not include the continuation of the Ai Pin.

The unfortunate reality for those who purchased the Ai Pin is that the device is set to lose connectivity. Starting February 28, the Ai Pin will no longer communicate with Humane’s servers, effectively rendering it useless. To mitigate disruption, Humane has issued a notice advising users to back up any important data prior to the cutoff date. This message is sourced from their support document.

“Data Access: We strongly encourage you to sync your Ai Pin over Wi-Fi and download any stored pictures, videos, and notes from Center before February 28, 2025. If you do not do this, your data will be lost upon deletion on February 28, 2025, at 12pm PST.”

Following the acquisition, co-founders Imran Chaudhri and Bethany Bongiorno will join HP, where they will spearhead a new division dedicated to integrating AI technologies into HP’s range of products, including PCs and printers. To complement this initiative, several members from the Humane team will also be part of this new venture. While this progression offers a silver lining for the founders, customers of the Ai Pin may still be dismayed by the situation.

For those seeking compensation, refunds are available for Ai Pin purchases made within the original 90-day return window. Additionally, users who subscribed to services associated with the device will receive a prorated refund equivalent to the duration of usage.

For further details, refer to the original article from Bloomberg.

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