[ad_1]
Raspberry Pi is reportedly on the verge of launching its initial public offering (IPO) in a move that could value the company at £500 million ($626 million).
The company, renowned for its affordable compact computers and its mission to make coding more accessible, could float by the end of May, according to sources familiar with the matter (via The Times), who noted that delays could be possible if market conditions deteriorate.
The report notes that the company, headed up by CEO Eben Upton, has been engaging with potential investors for several weeks.
Raspberry Pi float
Rumors of a potential float come 12 years after the company was founded in 2012, following the 2008 launch of the charitable Raspberry Pi Foundation.
Initially recognized for its educational mission, Raspberry Pi’s devices have become popular among individual consumers, hobbyists and businesses alike.
This won’t be the company’s first attempt at floating on the London Stock Exchange – earlier in 2021, Raspberry Pi was reportedly exploring an IPO, however that was postponed due to post-pandemic semiconductor shortages and rising geopolitical tensions. Three years ago, Upton’s IPO fell around £100 million short of today’s.
Since then, Raspberry Pi has received support from Cambridge-based Arm and Tokyo’s Sony.
In a statement earlier this year, the CEO affirmed the company’s commitment to its core mission, assuring shareholders that the IPO would not detract from its focus.
As anticipation continues, the industry looks on to see the result of Raspberry Pi’s foray into public trading.
TechRadar Pro asked Raspberry Pi to confirm the speculation and to add any further details, but we did not receive an immediate response.
More from TechRadar Pro
[ad_2]
Source link
