The co-founder of OnePlus, Carl Pei is beginning a new community funding project. Nothing will begin this project from Tuesday, March 2. According to an Instagram post by the company, there are over 33 million dollars of registered interest from 22000 people.
Also, the company will provide 1.5 million dollars of shares of the company to the local public. They will work on a First Come First Serve basis. Those who will come first will get 1st shares.
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Community Funding Project
Carl Pei is using a fan-driven approach to attract buyers to the event. According to the Instagram post, The company is reallocating its shares in the market for the upliftment of the community.
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However, Carl Pei has said nothing regarding the allocation of shares of OnePlus. Also, the public can only invest in a company when it is public. If the Company is not public then No one can buy the shares of that company.
Lastly, the company is using the crowdfunding scheme to reallocate the community money. This will help the community to get benefits from a possible IPO. On 16 February, Carl pei announced this Community Funding Project.
There is only 1.5 million dollars worth of shares available to the public. Only those who will buy the share first will get them easily. However, if they are late then they will not get the shares. Carl Pei is inviting everyone to invest in Nothing on March 02.
Narender Kumar
Always on the quest to learn and share the knowledge. Big fan of books (but not the self help ones) specially fiction. A grammar Nazi who loves to eat, cook, travel and watching thunderstorms.