Raspberry Pi Flotation: A-Level Business In The News

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Cambridge-based Raspberry Pi, known for creating affordable credit card-sized computers aimed at boosting coding skills among children, has confirmed plans to pursue an initial public offering (IPO) on the London Stock Exchange's main market.

If the IPO goes ahead, it could provide a significant boost to London's flagging stock market, which has been impacted by UK-listed firms being acquired or relocating abroad. Founded by computer scientist Eben Upton in 2008, Raspberry Pi has sold over 60 million of its single-board computers since launching its first product in 2012.

Upton expressed excitement about the next phase of development, stating that it would offer unprecedented opportunities for creativity and innovation while maintaining the company's commitment to low-cost computing.

Raspberry Pi is a subsidiary of the Raspberry Pi Foundation, a UK charity that has received around $50 million (£39.7 million) in dividends from the company since 2013, which has been used to advance its educational mission globally.

Upton acknowledged the foundation's support and noted that it would remain a major shareholder after the IPO, enabling it to further its work in empowering young people through computing.

In its most recent fiscal year, Raspberry Pi reported revenues of $265.8 million (£211.1 million) and operating profits of $37.5 million (£29.8 million). The company expects to receive the London Stock Exchange's Green Economy Mark upon listing, recognizing its commitment to sustainable practices.

Raspberry Pi Flotation