The Success of Raspberry Pi’s IPO

British computing startup Raspberry Pi has made headlines with its successful initial public offering, raising an impressive £166 million ($211.2 million). This achievement is a rare win for London’s main stock exchange, which has historically struggled to attract technology listings. The company priced its shares at 280 pence each, resulting in a valuation of approximately £541.6 million.

Raspberry Pi has garnered support from high-profile industry staples, including Arm and Sony. Sony Semiconductor Solutions, a subsidiary of Sony Corporation, invested in the British startup last year. Additionally, Arm, a chip designer headquartered in the UK, has demonstrated its confidence in Raspberry Pi. This backing has undoubtedly contributed to the company’s success and investor interest.

The Raspberry Pi IPO could potentially revitalize the struggling London bourse, as it has historically been overlooked by technology firms in favor of listings in other regions, particularly the U.S. The offering comprises a substantial number of ordinary shares, including those sold by Raspberry Pi’s majority shareholder and other stakeholders. The company’s decision to go public in London is a significant development for the city’s financial market.

Founded in 2012 by CEO Eben Upton, Raspberry Pi aims to make computing more accessible, particularly to young people. Its single-board computers have gained popularity among hobbyists and industrial users alike. In fact, the company reports that 72% of its unit sales are targeted towards the industrial market, where its products are utilized in various applications, such as factories.

In terms of financial performance, Raspberry Pi has seen significant growth, with revenues reaching $265.8 million in 2023, reflecting a 41% year-on-year increase from the previous year. The company’s expansion into new markets and continuous innovation have positioned it as a key player in the technology industry. Looking ahead, Raspberry Pi’s success in the IPO market sets the stage for further growth and market penetration.