What you need to know
- Carl Pei's Nothing is giving the general public an opportunity to invest in the company through a community equity round.
- Pre-registrations to the financing option are now open.
- The campaign will go live on March 2 at 5 AM ET.
OnePlus co-founder Carl Pei announced his new venture last month, a consumer technology company called Nothing. While the company hasn't revealed much about the "smart devices" that it plans to launch later this year, it today announced that it will allow its community to invest $1.5 million at the same valuation as its Series A funding. Nothing will also elect one of the crowdfunding investors as a community board member "to represent and be the voice of the community in board meetings."
Carl Pei, CEO and Co-founder of Nothing, said in a statement:
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.
If you're interested in investing in Carl Pei's new venture, you can now pre-register to the financing option. The campaign is set to go live on March 2 at 5 AM ET. Once the community funding round is completed, investors will get access to Nothing's private community – which promises exclusive benefits and insights into the company.
Nothing raised a $15 million Series A round from Alphabet's venture capital unit recently and plans to launch its first smart products in the first half of 2021. It also acquired Andy Rubin's Essential brand recently, which suggests the company could enter the smartphone market eventually.