Reports suggest that Raspberry Pi is considering a potential London float, which could see the company valued at between £370-400m.
According to Raspberry Pi CEO, Eben Upton, it is ready to float, and he has said that he would prefer a London listing over the US as a destination for the IPO.
According to Upton, the float will happen when ‘markets are ready’, and while there is no definite date or plan yet, it’s a move that would make sense for the manufacturer of the low cost, credit-card sized computer.
It’s been a frustrating couple of years for Raspberry Pi, as although sales topped 5 million last year, with revenues of over $180m and a profit of $20m, sales were held back by chip shortages. According to Upton there had been demand for nine million Pis last year and he is forecasting sales of over seven million in 2023.
The Raspberry Pi is controlled by the Raspberry Pi Foundation, a charity that was set up to serve educational purposes and which owns Raspberry Pi Ltd. All profits go straight to the foundation.
While a flotation is being considered analysts suggest that it might not happen until the second half of 2024, pointing to possible market hesitancy following the limited ‘success’ of the recent Arm IPO.
