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World NewsRaspberry Pi Skyrockets as it Goes Public: Shares Surge 32% in IPO
Raspberry Pi Skyrockets as it Goes Public: Shares Surge 32% in IPO
The maker of tiny, affordable computers becomes a public company, with its IPO pricing leading to a significant boost in share value.
In a surprising turn of events, Raspberry Pi, renowned for its small, inexpensive single-board computers, has made its way into the public domain. The company's initial public offering (IPO) on the London Stock Exchange has priced its shares at £2.80, resulting in a valuation of £542 million ($690 million). The IPO's success was further highlighted by a 32% surge in share price, reaching £3.70. With this extraordinary response, Raspberry Pi stands to raise over $200 million during the IPO process. This unexpected move has garnered attention, emphasizing the growing popularity and demand for the company's versatile computing solutions.
The Rise of Raspberry Pi:
Raspberry Pi has gained prominence for its affordable and programmable computers, which have captured the interest of tech hobbyists and industrial companies alike. These ARM-based devices have been utilized in various applications, from media servers and retro game consoles to robotics projects and interactive dashboards. The company's sales have seen a significant boost, with the industrial and embedded segment accounting for 72% of its revenue. Having sold 60 million units since its inception, Raspberry Pi generated $266 million in revenue and $66 million in gross profit in 2023 alone.
London Stock Exchange Triumphs:
Raspberry Pi's decision to go public on the London Stock Exchange marks a victory for the U.K. stock market. While companies like Deliveroo and Wise have chosen to list in London, many tech firms opt for U.S. exchanges due to their higher liquidity. However, Raspberry Pi's successful IPO demonstrates the growing confidence in the London market and its ability to attract innovative tech companies.
"We aim to make coding accessible to all through our low-cost, programmable computers. The IPO of Raspberry Pi Ltd, our commercial subsidiary, aligns with our mission to empower individuals with the tools to learn and create."
With its IPO pricing and subsequent surge in share value, Raspberry Pi's journey into the public market has exceeded expectations. The company's commitment to affordable and programmable computing solutions has resonated with a wide range of users, from tech enthusiasts to industrial manufacturers. As Raspberry Pi continues to make strides in the technology sector, its successful IPO serves as a testament to the growing demand for accessible and versatile computing platforms.
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