Who would have thought that Raspberry Pi, the maker of tiny, inexpensive single-board computers, would go public? However, that’s exactly what it is it happens: Raspberry Pi its IPO was priced on the London Stock Exchange on Tuesday morning at £2.80 a share, valuing it at £542 million, or $690 million at today’s exchange rate.
Shortly after, the company Shares rose 32% to £3.70. It means Raspberry Pi could end up raising more than $200 million during its IPO process.
Retail investors cannot yet buy shares of Raspberry Pi, as only certain institutional shareholders can trade the company’s shares at this time. Retail investors will be able to buy and sell shares from Friday.
This listing is also a win for the London Stock Exchange. Deliveroo and Wise both trade in London, but many UK tech companies choose to go public in the US as the stock markets there are more liquid.
Raspberry Pi is mostly known for its tiny computers that can be programmed to do all kinds of tasks without spending a lot of money and requiring too much power. These ARM-based computers became especially popular among tech hobbyists who wanted to build media servers, retro game consoles, interactive dashboards, robotics projects, and more.
More recently, many industrial companies have started to integrate Raspberry Pi into their devices and facilities. The company References that the industrial and embedded segment accounts for 72% of its sales.
Raspberry Pi has sold 60 million units since its launch. In 2023 alone, Raspberry Pi generated $266 million in revenue and $66 million in gross profit.
Raspberry Pi Ltd, the public company, is the commercial subsidiary of the Raspberry Pi Foundation. The Foundation says it wants to make it easier for people to learn coding through a low-cost, programmable computer. It also remains the majority shareholder of Raspberry Pi Ltd.
The company’s other strategic shareholders include ARM and Sony Semiconductor Solutions Corporation, a Sony subsidiary that makes image sensors for smartphones and other components. ARM had previously stated that it intended to increase its stake in Raspberry Pi through the public listing.
