Proactive Investors - Raspberry Pi, a pioneer of affordable, high-performance single-board computers (SBCs), announced its plans to go public on the London Stock Exchange's Main Market.
Well, it announced its 'expected intention to float', though as yet we don't have a timetable for the IPO or a price tag.
In its last fundraising round, the hobbyist microcomputer outfit was valued at just over £440 million, with the weekend reports suggesting this has risen to around £500 million.
If it goes ahead, the Raspberry Pi float would represent a boon for the London Stock Exchange, which has so far failed to welcome a major new entrant this year (there has been a handful of micro-cap newcomers).
Since its inception in 2012, Raspberry Pi has sold over 60 million SBCs and compute modules, including 7.4 million units in 2023 alone.
The company estimates its market potential at approximately $21.2 billion. For the year ending December 31, 2023, it reported revenues of $265.8 million, with a gross profit of $66 million and an operating profit of $37.5 million. Adjusted EBITDA stood at $43.5 million.
CEO Eben Upton said: "When we released our first product in 2012, our goal was to provide a computer that was affordable enough for young people to own and explore with confidence, giving them the chance to discover computing and get excited about it.
"But from the very beginning, we saw customers using our products in a staggering variety of applications across a broad swathe of markets, and as we recognised the potential for affordable technology to make a meaningful difference not just in education but in countless other contexts, the scale of our ambition grew. Twelve years later, we have sold over 60 million units in over 70 countries around the world."