Nothing: A New Approach to Community Investment

Carl Pei, previously a co-founder at OnePlus, possesses considerable experience in fostering strong community engagement. During his time with the smartphone manufacturer, Pei actively solicited product suggestions and feature requests from fans. He also regularly organized events to gather direct feedback.

Now, with his new company, Nothing, Pei is implementing an even more inclusive strategy.

Community Equity Round

The London-based company announced on Tuesday its intention to enable its community members to invest $1.5 million in the firm. This will be achieved through a community equity round scheduled for early next month.

To ensure ongoing representation of user interests, one member of the community will be elected to Nothing’s board of directors. This individual will serve as a constant reminder of user needs and expectations, according to Pei.

Recent Funding and Investors

The startup recently secured $15 million in Series A funding led by Alphabet’s GV. The community investment will be offered at the same valuation established during the Series A round.

Additional funding of $7 million has been obtained from prominent figures in the tech industry. These include Kunal Shah of Cred, Tony Fadell (principal at Future Shape and the inventor of the iPod), popular YouTuber Casey Neistat, Kevin Lin (co-founder of Twitch), and Steve Huffman, CEO of Reddit.

Pei’s Vision for Community Involvement

“Our goal is to involve our community from the outset and empower them to actively participate in our progress,” stated Pei, who also holds the position of chief executive at Nothing.

Pre-registration for this financing opportunity will commence on February 16th at 10:00 a.m. GMT, with the official campaign launching on March 2nd at 10:00 a.m. GMT.

Future Product Plans

While Pei has not yet detailed the specific products Nothing intends to develop, he has indicated plans for wireless headphones and a range of smart, connected consumer electronics.

When questioned about why this venture couldn't have been pursued within OnePlus, Pei explained, “To truly innovate and create something distinct, it’s often best to begin with a fresh perspective and a new environment.”

Acquisition of Essential Trademarks

Reports surfaced this week, as covered by 9to5Google, that Nothing has acquired certain trademarks from Andy Rubin’s former company, Essential.

This acquisition suggests potential avenues for Nothing’s future product development and brand identity.