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Carl Pei's Nothing gives everyone a chance to invest in the company

Carl Pei, former co-founder OnePlus, has opened up Nothing brand for its community to invest in the company.

twitter-logoKetan Pratap | February 16, 2021 | Updated 17:16 IST
Nothing
Carl Pei's Nothing brand is now opens for its community to invest

Highlights

  • The company so far has raised $22 million in funding.
  • The pre-registrations are now live.
  • Nothing will elect a community board member to represent in board meetings.

Nothing, the all-new venture by Carl Pei, on Tuesday announced that it would open up for the community to invest in the company. So far, the company has raised a total of $22 million and now plans to include a total of $1.5 million from the community. Notably, the brand will allow its community to invest the total amount at the same valuation as their Series A funding with GV (previously Google Ventures).

Carl Pei announced the news in a tweet on Tuesday, and wrote, "Usually the community has to wait for an IPO to invest, but by that time, the valuation is already high. We are inviting you to own Nothing from the very beginning, at the same price as our Series A, and be on board for the entire ride."

In a statement, the company clarifies that following this community funding round, investors will have access to Nothing's private community through which they will get exclusive benefits and insights into the company.

Interestingly, Nothing has also announced that it will elect a community board member to represent and be the community's voice in board meetings.

The funding will be done on the crowdfunding platform, CrowdCube and interested people can register their interest right now on the website. The pre-registration is now live, and the campaign will go live on March 2.

"We want our community to be part of our journey from the very start and play an active role in it. As part of this process, we'll also be electing a community member to our board of directors, so that we're always kept in check, and reminded of what users want," Carl Pei, CEO and Co-founder of Nothing.

Nothing brand: Story so far
Carl Pei announced his new venture, Nothing, on January 27 after parting ways with OnePlus in October last year. Some of the initial investors that the brand revealed included Tony Fadell (iPod inventor), Kevin Lin (Twitch co-founder), Casey Neistat (YouTuber), Steve Huffman (Reddit CEO), Paddy Cosgrave (Founder of Web Summit) and Kunal Shah (CRED founder), among others.

Last week, the company announced that it would launch wireless earbuds this summer, which will be the venture's first product. Nothing also announced that it raised $15 million in funding last week from GV (earlier Google Ventures).

Pei has already revealed his intentions about en ecosystem of products where one device can talk to another.

Earlier on Tuesday, we learnt that Nothing acquired Andy Rubin's Essential brand.

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