If you look at one of their PCs, it looks like a mechanical, exposed component of a laptop that you\u2019d otherwise take no interest in.<\/p>\n
But that\u2019s exactly Raspberry Pi\u2019s goal\u2014to teach people about computing and coding. The Cambridge-based group, founded 16 years ago, is now gearing up for an IPO<\/a> that\u2019s set to give the London Stock Exchange a much-needed boost. Its shares have been priced at \u00a32.80 ($3.56) apiece, fetching a market capitalization of about \u00a3542 million ($688 million).<\/p>\n The shares will start trading on June 14.<\/p>\n \u201cIn an ever-more-connected world, the market for Raspberry Pi\u2019s high-performance, low-cost computing platforms continues to expand,\u201d Raspberry Pi CEO Eben Upton said.<\/p>\n Raspberry Pi had a humble start to life as a charity in Cambridge, where a team of engineers and computer scientists came together to create a PC unique from others.<\/p>\n It was made to \u201cwithstand the rough and tumble of childhood,\u201d as the University of Cambridge puts it<\/a>, and the company has now sold over 60 million PCs worldwide since it first went on sale in 2012.<\/p>\n Raspberry Pi\u2019s secret sauce has four easy yet critical criteria\u2014the PCs must be programmable, fun, affordable, and robust.<\/p>\n Today, the cheapest Raspberry Pi computer costs just $15<\/a>.<\/p>\n People use Raspberry Pi to understand programming and test hardware projects and other factory machinery.<\/p>\n \u201cAs we recognised the potential for affordable technology to make a meaningful difference, not just in education but in countless other contexts, the scale of our ambition grew,\u201d Upton told the Financial Times<\/em><\/a>.<\/p>\n In the last 12 years, Raspberry Pi has released several models, with the profits going towards the eponymous foundation\u2014a shareholder with a 73% stake in the company\u2014to support children\u2019s education. The Raspberry Pi Foundation also offers free resources and educational programs tailored to young people.<\/p>\n The commercial company\u2019s revenue jumped 41% in 2023 to $266 million compared to a year earlier, doubling profits to $38 million.<\/p>\n A registration document in November valued the company at nearly $600 million, including the new funds raised, just as chipmaker Arm<\/a> bought a minority stake in the company.<\/p>\n Chris Ratcliffe\u2014Bloomberg\/Getty Images<\/p>\n<\/div>\n The ultra-niche computer maker\u2019s IPO has been in the works for a few months.<\/p>\n Among the reasons it\u2019s being watched closely is the boost it could bring the London Stock Exchange, which has seen prominent listings slip by despite being within its grasp (including Arm\u2019s). In particular, London has lost its allure in the tech world in recent years.<\/p>\n It\u2019s not been a great look for LSE, which has seen some companies wind down<\/a> their listings just as IPOs in other European markets have amped up\u2014such as Switzerland\u2019s Galderma Group and Spain\u2019s Puig beauty group.<\/p>\n Indeed, Raspberry Pi could be a great poster child for reasserting London\u2019s attractiveness as a key European home of tech. The company has users across different age groups and industries, it\u2019s purpose-driven, and has generated significant revenue due to the quality of its products.\u00a0<\/p>\n \u201cStrategically, Raspberry Pi\u2019s listing is incredibly important as it would add an established, profitable technology company to the UK market,\u201d Dan Ives, investment analyst at AJ Bell, said in a note last month.<\/p>\n \u201cLondon is extremely underweight tech companies versus the US and anything to address this problem is a step in the right direction. In a best-case scenario, if Raspberry Pi\u2019s share price soars at IPO, it could open the floodgates for more tech firms to list in London as it would demonstrate investor enthusiasm for the sector and a willingness to back UK tech champions.\u201d<\/p>\n Raspberry Pi reminds us never to underestimate the power of a simple yet effective product. Whether that can help the U.K.\u2019s stock markets in an equally effective way remains to be seen.<\/p>\n<\/div>\nWhat is Raspberry Pi anyway?<\/strong><\/h2>\n
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Raspberry Pi goes public<\/strong><\/h2>\n