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Hardware maker Nothing is letting its user base buy its stock as part of a new community investment round of $5 million. The new round, which opens on December 10, will enable consumers to buy the company\u2019s shares at its Series C valuation of $1.3 billion<\/a>.<\/p>\n The company said it has so far raised $8 million in total from over 8,000 people across two previous community investment rounds. It held its first community funding event in 2021, aiming to raise $1.5 million<\/a>. <\/p>\n \u201cThis isn\u2019t about raising capital, it\u2019s about giving our community\/fans a chance to invest while we\u2019re private and join us on the journey,\u201d a spokesperson for Nothing told TechCrunch.<\/p>\n Community investors have a rotating seat on the company\u2019s board, but it is unclear what else they get for investing in the company through such rounds.<\/p>\n Nothing raised $200 million in its Series C back in September from investors including Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. The company has raised $450 million to date.<\/p>\n The community round comes as Nothing makes changes to its corporate structure as it tries to increase its share of a smartphone market dominated by giants like Samsung and Apple. The company is spinning off its budget CMF brand<\/a>, and plans to explore AI-centric devices while it keeps building smartphones and audio products. And Nothing claims it crossed $1 billion in cumulative revenue this year, up 150% from 2024. <\/p>\n The startup is working to be \u201cIPO-ready\u201d in three years, CEO Carl Pei told TechCrunch in an email. \u201cThe timing will depend on market conditions and what makes sense for the business at that point in time,\u201d he said. <\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> \u201cWhat\u2019s important is that we\u2019re already operating with that discipline now. We\u2019re building the systems, the governance, the financial discipline that a public company needs. It forces us to think longer-term and make smarter decisions that prioritise sustainable growth,\u201d Pei added.<\/p>\n It\u2019s not clear if Nothing aims to raise another round before an IPO. When asked about its fundraising plans, a Nothing spokesperson said the company is not thinking about raising capital immediately, but it wouldn\u2019t be averse to those conversations.<\/p>\n Those interested in investing in the community round can use platforms like Wefunder<\/a> and\u00a0Crowdcube<\/a> to participate.<\/p>\n<\/div>\n
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