Imagine owning a piece of your favorite tech company before it goes public. That’s exactly what Nothing, the innovative hardware maker, is offering its community—a chance to buy its stock in a groundbreaking $5 million community investment round. But here’s where it gets controversial: is this a genuine opportunity for fans to share in the company’s success, or a clever way to raise capital without the traditional strings attached? Let’s dive in.
Starting December 10, Nothing is allowing its users to purchase shares at its Series C valuation of $1.3 billion, a move that blurs the line between consumer and investor. This isn’t the company’s first rodeo in community funding—it’s already raised $8 million from over 8,000 people across two previous rounds, the first of which aimed for $1.5 million back in 2021. A spokesperson for Nothing told TechCrunch, ‘This isn’t about raising capital; it’s about giving our community/fans a chance to invest while we’re private and join us on the journey.’
And this is the part most people miss: community investors get a rotating seat on the company’s board, but the specifics of what else they gain remain unclear. Is this symbolic representation or real influence? That’s a question worth exploring.
Nothing isn’t just relying on community funds—it secured a hefty $200 million in its Series C round in September from heavy hitters like Tiger Global and GV, bringing its total funding to $450 million. But this community round comes at a pivotal moment. The company is restructuring to compete in a smartphone market dominated by giants like Samsung and Apple. It’s spinning off its budget CMF brand, exploring AI-centric devices, and claims to have crossed $1 billion in cumulative revenue this year—a 150% jump from 2024.
CEO Carl Pei has his eyes on the prize: making Nothing ‘IPO-ready’ in three years. ‘The timing will depend on market conditions and what makes sense for the business,’ he told TechCrunch. But here’s the kicker: Pei emphasizes they’re already operating like a public company, building systems for governance, financial discipline, and sustainable growth. Is this a bold move or a premature leap? Let us know what you think in the comments.
Interestingly, it’s unclear if Nothing plans to raise another round before going public. When asked, a spokesperson hinted they’re not actively seeking capital but remain open to discussions. For those eager to invest, platforms like Wefunder and Crowdcube are your gateways.
As Nothing charts its course, one thing is certain: this isn’t your typical tech company. By inviting its community to invest, it’s redefining what it means to be a stakeholder. But the question remains: will this strategy pay off, or is it a risky gamble? Share your thoughts below—we’d love to hear your take on this unconventional approach to growth.
