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Raspberry Pi Picks Banks for IPO, Choosing London over New York

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Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#11

Wasn't it supposed to be a charity/non profit foundation? Isn't an IPO kinda the opposite of that? Or is is the fashionable thing these days to claim to be non-profit when you're young and looking for grassroots support, only to transform when there is money to be made?

They have already taken outside investments in previous rounds. This is the Raspberry Pi Ltd (formerly Raspberry Pi Trading Ltd). The Raspberry Pi Foundation is still a charity.

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#13
Ah, this may explain their abandonment of the 'hacker' community and weird hostility towards them over the last few years.

They've gone from a fun project and education focused company who was mostly operating under their non-profit arm to better education, to a B2B enterprise supplier with a heavy handed and sometimes outright hatred to their original user base.

For a proof of concept, pop onto their forums, create an account and make a post asking how to do something fairly basic, see how quickly you get yelled at and banned for life.

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#14

Wasn't it supposed to be a charity/non profit foundation? Isn't an IPO kinda the opposite of that? Or is is the fashionable thing these days to claim to be non-profit when you're young and looking for grassroots support, only to transform when there is money to be made?

The non-profit arm is a tiny insignificant part of their business now. They stopped being education and charity focused during covid and are only really interested in their B2B customers these days.

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#16
post #9

To clarify, this is Raspberry Pi Ltd (formerly Raspberry Pi Trading Ltd), a subsidiary of the Raspberry Pi Foundation (the charity). I'm curious how this will affect the foundation's mission, but I guess they are already affected by the outside investments from previous fundraising rounds.

For an example of the long-term effects on mission, you can study Kellogg’s (the cereal company) which has been a for-profit public company (Kellogg Company), with a trust as the majority shareholder (W.K Kellogg Foundation Trust), and sending profits to to a non-profit charitable organization (W.K. Kellogg Foundation) since 1934.

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#17
post #13

Ah, this may explain their abandonment of the 'hacker' community and weird hostility towards them over the last few years. They've gone from a fun project and education focused company who was mostly operating under their non-profit arm to better education, to a B2B enterprise supplier with a heavy handed and sometimes outright hatred to their original user base. For a proof of concept, pop onto their forums, create…

Why don't you just add some links rather than suggesting people spam a user forum

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#18

Wasn't it supposed to be a charity/non profit foundation? Isn't an IPO kinda the opposite of that? Or is is the fashionable thing these days to claim to be non-profit when you're young and looking for grassroots support, only to transform when there is money to be made?

Yeah... I have major concerns about how significantly this would impact their ostensible goals. What guarantee is there that the newly publicly listed company won't be pressured by stockholders to improve the profit margins by driving up prices and reducing product quality on both the hardware and software fronts.

> What guarantee is there that the newly publicly listed company won't be pressured by stockholders to improve the profit margins by driving up prices and reducing product quality on both the hardware and software fronts.

Isn't that what a public typical company do these days anyway? Or is there a sarcasm tone I am missing somehow?

Re: Raspberry Pi Picks Banks for IPO, Choosing London over New York

#19
post #13

Ah, this may explain their abandonment of the 'hacker' community and weird hostility towards them over the last few years. They've gone from a fun project and education focused company who was mostly operating under their non-profit arm to better education, to a B2B enterprise supplier with a heavy handed and sometimes outright hatred to their original user base. For a proof of concept, pop onto their forums, create…

Why don't you just add some links rather than suggesting people spam a user forum

I'm not really suggesting people do that, just pointing out what happens. It's slightly difficult to post links to threads that they delete...
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