Seeing comments after the Bloomberg story, Upton said he understood concerns about a potential shift in mission or a change in the pricing structure. “It’s a good thing, in that people care about us,” Upton said in a phone interview. But he noted that Raspberry Pi’s business arm has had both strategic and private investors in its history, along with a majority shareholder in its Foundation (which in 2016 owned 75 percent of shares), and that he doesn’t see changes to what Pi has built.
“What Raspberry Pi [builds] are the products we want to buy, and then we sell them to people like us,” Upton said. “Certainly, while I’m involved in it, I can’t imagine an environment in which the hobbyists are not going to be incredibly important.”
The IPO is “about the foundation,” Upton said, with that charitable arm selling some of its majority stake in the business entity to raise funds and expand. (“We’ve not cooked up some new way for a not-for-profit to do an IPO, no,” he noted.) The foundation was previously funded by dividends from the business side, Upton said. “We do this transaction, and the proceeds of that transaction allow the foundation to train teachers, run clubs, expand programs, and… do those things at, at least, a factor of 2X. That’s what I’m most excited about.”
Asked about concerns that Raspberry Pi could focus its attention on higher-volume customers after public investors are involved, Upton said there would be “no change” to the kinds of products Pi makes, and that makers are “culturally important to us.” Upton noted that Raspberry Pi, apart from a single retail store, doesn’t sell Pis directly but through resellers. Margin structures at Raspberry Pi have “stayed the same all the way through,” Upton said and should remain so after the IPO.
Raspberry Pi’s lower-cost products, like the Zero 2 W and Pico, are fulfilling the educational and tinkering missions of the project, now at far better capability and lower price points than the original Pi products, Upton said. “If people think that an IPO means we’re going to … push prices up, push the margins up, push down the feature sets, the only answer we can give is, watch us. Keep watching,” he said. “Let’s look at it in 15, 20 years’ time.”
This post was updated at 2:30 pm ET on January 30 to include an Ars interview with Raspberry Pi CEO Eben Upton.