▼ Summary
– Nothing is opening a $5 million community investment round on December 10, allowing consumers to buy shares at its $1.3 billion Series C valuation.
– The company has previously raised $8 million from over 8,000 community investors, who get a rotating board seat, with the goal of involving fans rather than just raising capital.
– Nothing is restructuring, spinning off its CMF brand and exploring AI devices, while reporting $1 billion in cumulative revenue this year, a 150% increase from 2024.
– CEO Carl Pei stated the company is working to be “IPO-ready” in three years, building the necessary systems and financial discipline for a public listing.
– Interested investors can participate in the community round through platforms like Wefunder and Crowdcube, while the company is not actively seeking immediate capital but remains open to conversations.
Nothing is launching a new $5 million community investment round, allowing its dedicated users and fans to purchase shares at the company’s current Series C valuation of $1.3 billion. This initiative, opening on December 10th, is framed not as a capital-raising necessity but as an opportunity for the community to invest while the company remains private. The consumer electronics firm has already raised $8 million from over 8,000 individuals across two prior community funding events, demonstrating strong grassroots support.
A company spokesperson emphasized that this move is about giving their most loyal followers a chance to join them on their corporate journey. While community investors are granted a rotating seat on Nothing’s board, the full scope of investor benefits remains somewhat undefined. This latest round builds upon a significant $200 million Series C funding secured in September from major venture firms including Tiger Global, GV, and Highland Europe, bringing Nothing’s total funding to approximately $450 million.
This strategic shift occurs as Nothing restructures its operations to better compete in the challenging smartphone market, currently led by giants like Apple and Samsung. As part of this evolution, the company is spinning off its more budget-friendly CMF brand and plans to develop AI-focused devices while continuing its core work on smartphones and audio products. Nothing also reports reaching a milestone of $1 billion in cumulative revenue this year, marking a substantial 150% increase.
Looking ahead, Nothing’s leadership has set a clear target. CEO Carl Pei stated the company is actively working to become “IPO-ready” within the next three years. The exact timing of a public offering will depend on market conditions and the strategic needs of the business at that future point. Pei noted that the company is already adopting the rigorous systems, governance, and financial discipline required of a public entity, which he believes fosters longer-term thinking and smarter decisions for sustainable growth.
When questioned about further fundraising before a potential IPO, a spokesperson indicated that while Nothing is not actively seeking immediate capital, it remains open to conversations. For those interested in the current community round, participation is facilitated through online investment platforms such as Wefunder and Crowdcube.
(Source: TechCrunch)
