It's rare for a pre-IPO company to check every box institutional investors look for — explosive growth, profitability, massive user base, brand-name backers, and a clear path to public markets. Mode Mobile, the Chicago-based smartphone technology company, appears to be doing exactly that.
And in an unusual move for a company of this scale, they've opened their Series A to everyday investors through a Reg A+ offering at $0.52 per share. Non-accredited investors can participate through August 14. After that, the offering continues for accredited investors only, and the share price will change.
Take a look at the numbers, this could be one of the most asymmetric pre-IPO opportunities available to non-accredited investors today.
What Mode Mobile Built and Why It's Growing This Fast
Mode Mobile has developed a proprietary software platform called EarnOS that transforms ordinary smartphones into what the company calls "EarnPhones" — devices that compensate users for everyday activities like listening to music, playing games, shopping, tracking fitness, and even charging their phone.
The thesis is simple but powerful: Americans spend over 4 trillion hours annually on their smartphones, and Mode has found a way to monetize that attention and share the economics with users. In a country where 56% of adults can't cover a $1,000 emergency expense, the value proposition has resonated at an extraordinary scale.
- 490 million+ users across Mode's ecosystem globally
- 50 million+ EarnOS beta accounts with rapid international expansion
- 2 million+ five-star reviews on Google Play
- $1 billion+ earned and saved by users worldwide
- Active in 170+ countries; hardware sold out at Amazon, Best Buy, Walmart, and Target
CEO Dan Novaes has described the company's vision as a "privatized universal basic income" — and the market is responding. Mode's revenue engine is diversified across B2B digital advertising, subscription services (Mode Earn Club), hardware device sales, and OEM licensing deals.
The Financial Picture: Profitable Growth at Scale
What separates Mode from the crowded field of pre-IPO tech companies is a word rarely heard at this stage: profitability. The company reported $11.8 million in pro-forma EBITDA for 2025.¹ Not a projection, but an actual result.
If management's projections hold, Mode would be generating $200 million in annual revenue and $78 million in EBITDA by 2027. At its current valuation, that may represent a significant discount to where comparable public companies trade.
The company's total addressable market exceeds $1 trillion, with 1.21 billion smartphones sold globally in 2022 alone. Currently, 85% of Mode's revenue comes from the US, while 75% of its beta users are international — suggesting a massive untapped revenue runway abroad.
"I won $30,000! This is INSANE." Dane — Mode Mobile User
Dane — Mode Mobile User
Who's Backing Mode Mobile
The investor and advisor roster is notable for a company at this stage, and lend considerable credibility to the thesis. Among the names attached:
The company has also been featured across major financial media including CNBC, Forbes, Yahoo Finance, Fox Business, Inc. Magazine, Business Insider, and Benzinga. Novaes has appeared on both Nasdaq and NYSE broadcast segments.
The Investment Terms: What Retail Investors Need to Know
Mode Mobile's current Reg A+ offering is priced at $0.52 per share with a minimum investment of $1,300 (2,500 shares). The company has reserved the Nasdaq ticker $MODE and has publicly stated its intention to IPO within 18 months.
Notably, the company's previous two rounds sold out entirely, attracting over 59,000 individual investors that have committed more than $71.7 million.
Bonus Share Structure
Mode is offering tiered bonus shares to incentivize larger commitments:
Investors that attend Mode's investor webinar receive an additional 5% bonus on top of the tier above, subject to a maximum of 20%.
The Bull Case — and the Risks
The bull case is straightforward: a profitable, hyper-growth company with nearly half a billion users, Deloitte's #1 ranking, brand-name backers, and an imminent potential Nasdaq listing — available to retail investors at $0.52 before the IPO window opens.
Early-stage investing carries inherent risks, but for investors with appropriate risk tolerance, the asymmetric profile is hard to ignore: a sub-$1 billion valuation on a company projecting $200M revenue and $78M EBITDA within two years, with a potential Nasdaq listing on deck.
¹Pro forma revenue and EBITDA, includes full year numbers of the businesses acquired through 2025.
²Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 18 months. An intent to IPO is no guarantee that an actual IPO will occur.
The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
Please read the offering circular and related risks at invest.modemobile.com.
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