Cambridge-based computer firm Raspberry Pi, known for its affordable single-board computers, is valued at £540mn ahead of its planned listing on the London Stock Exchange. The valuation is based on the company's latest funding round in which it raised £38mn. Raspberry Pi's products are widely used in education, hobbyist projects, and industrial applications. The company, founded in 2008, has sold over 60 million of its credit card-sized computers and reported revenues of $265.8 million in 2023. Raspberry Pi expects to receive approval for listing from the London Stock Exchange, which will provide it with additional capital for expansion and development. [9bd1b409]
Chipmaking startup Cerebras Systems Inc. has selected Citigroup Inc. as the lead bank for its upcoming IPO. The company, which raised $250 million in a series F financing round in 2021, is targeting a valuation above $4 billion in the IPO. Cerebras Systems is one of several tech companies looking to go public in the coming months, following the success of recent tech IPOs by Reddit Inc. and Astera Labs Inc. [3fc0fda3]
Digital marketing company Ibotta, backed by Walmart, is also preparing for an IPO. Ibotta aims to raise $577.3 million with a valuation of around $2.7 billion. The company plans to offer 6.56 million shares of its Class A common stock at $88 per share. Ibotta, incorporated in 2011, will trade on the New York Stock Exchange under the ticker symbol 'IBTA'. [e551ca7f]