Nothing seeks cash from community - Mobile World Live

Nothing seeks cash from community

16 FEB 2021

OnePlus co-founder Carl Pei’s new company Nothing detailed an initiative to allow consumers to invest in the business through a community funding round, making $1.5 million worth of shares available.

In a notice on its website, Nothing said it would allow people to invest at the same price as its first institutional round of financing, which was led by Alphabet’s GV and generated $15 million, with shares available on a first come, first served basis.

Potential investors will be notified by the company after registering their email address, with purchases to be made via the Crowdcube platform.

Nothing explained investors would have access to a private forum and be privy to exclusive benefits.

Pei launched Nothing last month, stating it would focus on smart consumer devices starting with wireless earphones.

Essential deal
Nothing has also secured ownership of smartphone brand Essential, the brainchild of former Android founder Andy Rubin.

Filings with the UK Intellectual Property Office showed all existing trademarks, logos and the entire Essential brand were now owned by Nothing, though there is no mention on patents and other IP.

Essential launched one smartphone before shutting in February 2020.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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