A group of hardware and software developers is building a tiny computer that's small enough to put in your pocket and comes with a price tag of only $9.

"C.H.I.P. is a computer for students, teachers, grandparents, children, artists, makers, hackers, and inventors. Everyone really. C.H.I.P. is a great way to add a computer to your life and the perfect way to power your computer based projects," C.H.I.P.'s developers wrote on Kickstarter.

They say that it can be used to do almost everything a regular computer can do, including browsing the Internet, editing documents and playing games.

Thomas Deckert, founder and partner at Next Thing Co., explained on "Happening Now" that he and his team were working on a creating a computer in the shape of a camera. They succeeded, but the price was inaccessible to a wider audience.

"We looked everywhere for a cheaper computer to fit inside it," Deckert said. "When we didn't find what we wanted, we decided to make our own. And this is C.H.I.P., the $9 computer."

How does it cost just $9? Jenna Lee asked.

"Computers get faster, faster and faster, and they reach a point where they are quite fast enough already to do what you want to do," Deckert explained. "And so these slightly older chips are already produced in massive quantities and are consequently a lot cheaper to use."

"That combined with our close relationships with our manufacturing partners led us to create a product that does everything you need it to do, but in a small, cheap package."

He noted that C.H.I.P. has already raised nearly $1.5 million on Kickstarter from more than 27,000 backers.

"Our goal is to get as many people to have access to computers as possible and to be able to use them in ways that are meaningful and productive," Deckert explained.

Watch the "Happening Now" clip above and learn more about C.H.I.P. below.

Navy's New 'Cannon' Launches Swarms of Tiny Drones

Teen Texting Lingo: Codes Kids Use That Every Parent Should Know

NASA Working on Gecko-Inspired Gripping Technology

You might also be interested in ...

FBI Docs: Security Expert Says He Hacked Plane, Made It Fly Sideways

Military Drone Crash-Lands in Colo. Resident's Yard

Watch the Amazing Time-Lapse Video of the 9/11 Memorial Being Built

Caught on Camera: Suspect Fails Miserably at Stealing an ATM