Shares of Raspberry Pi on Tuesday were up 31% in morning trade, as the British computing startup seeks to raise some £166 million ($211.2 million) from its initial public offering.
Shares of Raspberry Pi begun “conditional dealing” on Tuesday with a full open trade due to begin on Friday. Shares rose to 390 pence after the firm, which makes tiny single-board computers, priced its shares at 280 pence apiece. The listing is seen as a rare win for London’s main stock exchange which has struggled to attract technology listings.
Based on the initial pricing of its shares, the company was valued at around £541.6 million.
The Raspberry Pi offering comprises 45.9 million ordinary shares sold by the company’s existing majority shareholder, Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the Raspberry Pi Foundation. It also includes 2.13 million ordinary shares sold by other shareholders, along with 11.23 million freshly issued shares.
If there is more demand, a so-called overallotement option will allow the Raspberry Pi Foundation to issue another 4.6 million shares. If the overallotment option is exercised, the final offer size will be £178.9 million.
Raspberry CEO Eben Upton established the company in 2012 to make computing more accessible to young people. Its single board computers can be used to power a whole range of uses.
While it initially gained traction with hobbyists, the company says that 72% of its unit sales target the industrial market, where it is used, for example, in factories.
In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% year-on-year from 2022.
A number of high-profile industry staples back the company, including Arm and Sony. Last year, Sony Semiconductor Solutions, a subsidiary of Sony Corporation, invested an undisclosed amount in the British startup.
While small relative to other tech firms, the Raspberry Pi IPO could breathe life into the struggling London bourse, which has been snubbed by technology firms in favor or listings in other parts of Europe, and particularly in the U.S.
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Klarna, a provider of buy now, pay later loans filed its IPO prospectus on Friday, and plans to go public on the New York Stock Exchange under ticker symbol KLAR.
Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range.
The decision to go public in the U.S. deals a significant blow to European stock exchanges, which have struggled to retain homegrown tech firms. Klarna CEO Sebastian Siemiatkowski had hinted for years that a U.S. listing was more likely, citing better visibility and regulatory advantages.
Klarna is continuing to rebuild after a dramatic downturn. Once a pandemic-era darling valued at $46 billion in a SoftBank-led funding round, Klarna saw its valuation slashed by 85% in 2022, plummeting to $6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the $15 billion range, bolstered by its return to profitability in 2023.
Revenue last year increased 24% to $2.8 billion. The company’s operating loss was $121 million for the year, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier.
Founded in 2005, Klarna is best known for its buy now, pay later model, a service that allows consumers to split purchases into installments. The company competes with Affirm, which went public in 2021, and Afterpay, which Block acquired for $29 billion in early 2022. Klarna’s major shareholders include venture firms Sequoia Capital and Atomico, as well as SoftBank’s Vision Fund.
Docusign rose more than 14% after reporting stronger-than-expected earnings after the bell Thursday.
“We’ve really stabilized and I think started to turn the corner on the core business,” CEO Allan Thygesen said Friday on CNBC’s “Squawk Box.” “We’ve become much more efficient.”
Here’s how the company performed in the fourth quarter FY2025 compared to LSEG estimates:
Earnings per share: 86 cents vs. 85 cents expected
Revenue: $776 million vs. $761 million
The earnings beat was boosted in part by the electronic signature service’s new artificial intelligence-enabled content called Docusign IAM, a platform for optimizing processes involving agreements.
“It’s tremendously valuable,” Thygesen said. “It’s opening a treasure trove of data. … We’re seeing excellent pickup.”
Looking to fiscal year 2026, Thygesen said Docusign expects IAM to account for low double digits of the total growth of the business by Q4.
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Thygesen said the company is also partnering with Microsoft and Google, which the company does not view as competitors because they’re “not looking to become agreement management specialists.”
Despite consumer sentiment and demand dipping across the board due to tariff uncertainty, Thygesen said the company has not seen anything yet in its transactional activity to indicate a slowdown in demand or growth.
“More and more people are going to want to sign things electronically,” Thygesen said.
The company reported subscription revenue at $757 million, marking a 9% year-over-year increase. Docusign said it expects first-quarter revenue between $745 million and $749 million and projects full-year revenue between $3.129 billion and $3.141 billion.
Docusign reported net income of $83.50 million, or 39 cents per share, compared to net income of $27.24 million, or 13 cents per share, a year ago. Fourth-quarter revenue of $776 million was up 9% from the year-ago quarter.
DocuSign went public in 2018 at a $6 billion valuation. The company’s share price soared during the pandemic as demand for remote services boomed during lockdowns and social restrictions, hitting record highs in 2021 before plummeting. Thygesen, who previously worked at Google, joined the company in September 2022 after DocuSign’s massive slide.
Less than two months ago, the tech industry’s top leaders flocked to Washington, D.C., for the presidential inauguration, part of an effort to strike a friendly tone with President Donald Trump after a contentious first go-round in the White House.
Thus far, they’ve avoided any nasty social media posts from the president. But their treatment by investors has been anything but warm.
Over the last three weeks, since the Nasdaq touched its high for the year, the seven most valuable U.S. tech companies — often called “the Magnificent Seven” — have lost a combined $2.7 trillion in market value. The sell-off has pushed the Nasdaq to its lowest level since September.
As of Thursday, the tech-heavy index was down 4.9% for the week, heading for its worst weekly performance in six months. If it ends up down more than 5.8%, it would be the steepest weekly drop since January 2022.
Sparking the downdraft was President Trump’s promise to slap high tariffs on top trading partners, including China, Mexico and Canada, along with mass firings of government workers. The combination of a potential trade war and rising unemployment is particularly troubling news for consumer and business spending and has raised fears of a recession.
Additionally, many technology companies import key parts from abroad, and rely on trade partners for manufacturing.
This isn’t what Wall Street was expecting.
Following Trump’s election victory in November, the market jumped on prospects of diminished regulation and favorable tax policies. The Nasdaq climbed to a record close on Dec. 16, capping a more than 9% rally over about six weeks after the election.
Since then, electric car maker Tesla has lost close to half its value, despite — or perhaps because of — the central role that CEO Elon Musk is playing in the Trump administration.
The Nasdaq’s high point for the year came on Feb. 19, about a month into Trump’s second term. But it finished that week lower and has continued its precipitous decline.
Here’s how the seven megacaps have fared over that stretch:
Apple, the world’s most valuable company and the only remaining member of the $3 trillion club, has lost $529 billion in market cap since the close on Feb. 19. The iPhone maker is down 17%.
Microsoft, which was previously worth over $3 trillion, has fallen by $267 billion in the past three weeks, a drop of close to 9% for the software giant.
Nvidia, the chipmaker that’s been the biggest beneficiary of the artificial intelligence boom, also slid below $3 trillion over the course of losing $577 billion in value, the biggest dollar decline in the group. Like Apple, the stock is down 17% since the Nasdaq peaked.
Amazon is down by $347 billion, falling by 14%, while Alphabet is off by $275 billion after a 12% decline. Meta has shed $286 billion in market cap, a 16% drop.
Tesla has seen by far the biggest percentage decline at 33%, equaling $386 billion in value.
Goldman Sachs on Wednesday referred to the group as the “Maleficent 7.” Chief U.S. equity strategist David Kostin noted that the basket now trades at its lowest valuation premium relative to the S&P 500 since 2017. Goldman cut its price target on the benchmark index to 6,200 from 6,500. The S&P 500 closed on Thursday at 5,521.52.
“We believe investors will require either a catalyst that improves the economic growth outlook or clear asymmetry to the upside before they try to ‘catch the falling knife’ and reverse the recent market momentum,” Kostin wrote.