RIP
this post was submitted on 11 Jun 2024
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So much for them remaining cheap...
Well I guess the lack of availability that never let me get into pi's the last few years was a good thing. R.I.P.
It was some kind of non-profit previously right? What happens with the money paid for the shares they floated?
I think they’re playing the same game OpenAI is. Nonprofits can “own” for-profits.
No, it’s not rational or ethical or reasonable, but it’s a thing, because Capitalism gotta Capitalism.
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There are two separate entities: the raspberry pi foundation which is the charity and unchanged, and the raspberries pi holdings company which has always been the business side of the project. The corporation contributes to the foundation a significant amount of money which is not changing. The charity is the majority stakeholder in the company.
Here's the founder explaining it
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Whats events point of going public? Arent they making profit? Or what does it even do for then now?
In general the reasons could be, an opportunity to raise capital meaning they can ramp up production or produce a better product, and/or the current owners want to cash out.
Most of the time is for the owner to cash out. Either now, or in a short time when the ramp up is done, for more money.
More money.
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This is the best summary I could come up with:
Introduced in 2014, the Pi gained the familiar 40-pin GPIO header and 512MB of RAM, yet it can hardly be called a ball of fire when compared to more modern hardware from the company.
Pi supremo Eben Upton was delighted with how things have gone so far and said in a statement: "The reaction that we have received is a reflection of the world-class team that we have assembled and the strength of the loyal community with whom we have grown.
"Welcoming new shareholders alongside our existing ones brings with it a great responsibility, and one that we accept willingly, as we continue on our mission to make high-performance, low-cost computing accessible to everyone."
Some users have expressed mixed feelings about the IPO, noting that the money would be helpful for R&D and new projects, however, the flotation underlines the fact that the company is a business.
As for the future, Upton told The Register earlier this year that while he remains at the helm of the organization, it would continue to do interesting work and try to keep making money.
The Reg hopes this is the case, but think it's fair to say that pleasing both the corporation's customers and shareholders might end up being more challenging than obtaining a Raspberry Pi 5 at launch.
The original article contains 498 words, the summary contains 216 words. Saved 57%. I'm a bot and I'm open source!
Now I'm glad I didn't get plugged in to their ecosystem.
Well, what we need is some dedicated non-profit company making chips.
Lame