Following Nothing’s first major event of 2022, the tech startup announced that it would be opening itself up to a community of investors. Starting April 5, Community Investment 2 will go live, giving the public the chance to be a part of the company through investment. Preregistration has already seen the company raise over $43 million through more than 22,000 investors as of March 29, and Nothing is shooting for even more.
The company has some pretty lofty goals of waking up the “sleepy smartphone market” by dethroning Apple as the sitting king of the industry. So far, Nothing has only produced the Ear 1 wireless earbuds, however, the tech startup is taking its first major step to shake up the phone market with the introduction of its upcoming smartphone, the Phone 1.
There still aren’t any public renders of the device announced at last week’s event, but Nothing CEO Carl Pei has high hopes for the smartphone. He expects it to be competent enough to give Apple a run for its money, but only time will tell if that will happen. All the company is asking for now is patience during its continued development and investment.
Nothing says it wants its community to “take these next steps” with the company through investment. The Phone 1 is still yet to be officially revealed, but the company says that its launch will be taking place in the summer.
Despite the company’s high hopes for itself, it isn’t the first to try and make a dent in Apple’s share of the market. Essential, Nextbit, OnePlus, and many others have all tried their hands at mimicking Apple’s success, but to little avail. Pei was even involved with OnePlus’ efforts to break into Apple’s user base before starting Nothing, so fans should be wary of Nothing’s promises before investing.
Investment is always a risk so those looking to put money into the company should consider their options before diving in headfirst.
