Raspberry Pi announces plans to go public on the London Stock Exchange
Raspberry Pi has announced its plans to go public on the London Stock Exchange (LSE). This move is being hailed as a rare win for the exchange, which has seen several British tech firms opt to list in the US, including cybersecurity firm Darktrace and chip designer Arm.
Founded in Cambridge by Eben Upton in 2008, Raspberry Pi sells low-cost computers that have garnered popularity among industrial users, enthusiasts, and educators. The company, which began trading in 2012, has sold over 60 million single-board computers and computer modules to date.
Raspberry Pi is hoping to achieve a market valuation of approximately £500m (€582m), according to reports by the Financial Times.
Raspberry Pi's decision to list on the LSE is seen as a significant boost for the UK’s tech sector. It contrasts with the recent trend of British tech companies seeking public listings in the US, a trend driven by factors such as larger capital markets and higher valuations. The move may signal a renewed confidence in the UK’s financial markets and their ability to support high-growth tech companies.
Eben Upton, Founder, and CEO of Raspberry Pi, has played a pivotal role in the company’s success. Initially created to promote computer science education, Raspberry Pi has evolved into a versatile tool used in a variety of applications, from simple educational projects to complex industrial automation systems.
The company’s low-cost, high-performance single-board computers have been particularly popular in the education sector, where they are used to teach coding and computer science. Raspberry Pi has also made significant inroads into the industrial market, with its products being used in a range of applications including robotics, manufacturing, and the Internet of Things (IoT).
Raspberry Pi’s anticipated valuation reflects its robust business model and the widespread adoption of its products. As the company prepares for its public listing, it will be closely watched by investors and market analysts.
The Financial Times reported that the decision to list on the LSE could encourage other UK tech firms to consider similar moves, potentially revitalising the exchange’s tech listings. This development comes amid ongoing discussions about how to make the UK a more attractive destination for tech IPOs.
"For the Raspberry Pi Foundation, a patient and supportive shareholder, this IPO brings the opportunity to double down on their outstanding work to enable young people to realise their potential through the power of computing," Upton told The Guardian.
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