Technology

59300 readers

4818 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

218

Raspberry Pi is planning a London IPO, but its CEO expects “no change” in focus (arstechnica.com)

submitted 9 months ago by ptz@dubvee.org to c/technology@lemmy.world

63 comments fedilink hide all child comments

The business arm of Raspberry Pi is preparing to make an initial public offering (IPO) in London. CEO Eben Upton tells Ars that should the IPO happen, it will let Raspberry Pi's not-for-profit side expand by "at least a factor of 2X." And while it's "an understandable thing" that Raspberry Pi enthusiasts could be concerned, "while I'm involved in running the thing, I don't expect people to see any change in how we do things."

you are viewing a single comment's thread
view the rest of the comments

[–] autotldr@lemmings.world 3 points 9 months ago

This is the best summary I could come up with:

CEO Eben Upton confirmed in an interview with Bloomberg News that Raspberry Pi had appointed bankers at London firms Peel Hunt and Jefferies to prepare for "when the IPO market reopens."

Raspberry previously raised money from Sony and semiconductor and software design firm ARM, and it sought public investment.

Upton also told The Register that Raspberry Pi "does interesting work and makes money, and I don't think those imperatives are going to change.

Still, news of the potential transformation of Raspberry Pi Ltd from the private arm of the education-minded Raspberry Pi Foundation into a publicly traded company, beholden to profit generation for shareholders, reverberated about the way you'd expect on Reddit, Hacker News, and elsewhere.

The company writes that "profits from the sale of Raspberry Pi computers help fund the Foundation’s educational initiatives."

The UK government's Companies House lists the foundation as having 75 percent ownership of shares and voting rights, with the ability to add or remove directors, though that information was last submitted in 2016.

The original article contains 411 words, the summary contains 168 words. Saved 59%. I'm a bot and I'm open source!