The business arm of Raspberry Pi is preparing to make a stock market initial public offering (IPO) in London. CEO Eben Upton tells Ars Technica that, should an IPO happen, it will let Raspberry Pi’s not-for-profit side expand by “at least a factor of 2 times.” And while it’s “an understandable thing” that Raspberry Pi enthusiasts could be concerned, “while I’m involved in running the thing, I don’t expect people to see any change in how we do things.”
CEO Eben Upton confirmed in an interview with Bloomberg News that Raspberry Pi had appointed bankers at London firms Peel Hunt and Jefferies to prepare for “when the IPO market reopens.”
Given the company’s gradual recovery from pandemic supply chain shortages, and the success of the Raspberry Pi 5 launch, the company’s IPO will likely jump above $500 million, even with a listing in the UK rather than the more typical US IPO. Upton told The Register that “the business is in a much better place than it was last time we looked at it [an IPO in 2022].
“What Raspberry Pi [builds] are the products we want to buy, and then we sell them to people like us,” Upton said. “Certainly, while I’m involved in it, I can’t imagine an environment in which the hobbyists are not going to be incredibly important.”
Upton said there would be “no change” to the kinds of products Pi makes, and that makers are “culturally important to us.”
Read more on Ars Technica here.
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