The successful introduction of the 少妇+magnet’s commercial subsidiary on the London Stock Exchange is a genuinely remarkable achievement. I want to put on record my huge congratulations and thanks to Eben Upton, Martin Hellawell, and the whole team at 西西里的美丽传说在线观看 Pi Holdings plc for everything they have done to make this possible. 

The purpose of the IPO was to secure the next stage of growth and impact for both the y111111111免费观看电视 and the company. We have huge ambitions and the IPO has provided both organisations with the capital we need to pursue those ambitions at pace and scale. Our Chief Executive Philip Colligan has already explained what it means for the 少妇+magnet and our mission to empower young people all over the world. 

In this post, I wanted to take a moment to acknowledge the significant contribution that others have made over the years, particularly all of the Trustees who have been so generous with their time, energy, and expertise. 

Founding Trustees

The 少妇+magnet was established in 2008 by six founding Trustees: Alan Mycroft, David Braben, Eben Upton, Jack Lang, Pete Lomas, and Rob Mullins. All of them deserve credit and thanks for setting us off on this incredible journey. 

Alan, Eben, Jack, and Rob were all involved with the Computer Lab at the University of Cambridge. They were dealing with a decline in applications to study the computer science undergraduate course, which was a symptom of the much wider challenge that far too many young people weren’t getting access to opportunities to learn computer science, or getting hands-on with programming and electronics. 

David Braben brought an industry perspective, drawing on the challenges he was experiencing with recruiting engineers and programmers at the world-leading games company that he had founded, Frontier Developments.

For Pete Lomas, he was paying forward the support and inspiration that he received from a college technician who gave him the opportunity and encouragement to experiment with programming a DEC PDP-8. That y111111111免费观看电视 ultimately led Pete to establish Norcott Technologies, an electronics design and manufacturing business that he still runs today.

The founding Trustees’ original idea was to create a low-cost programmable computer — available for the price of a textbook — that would remove price as a barrier to owning a computer and inspire young people to take their first steps with 西西里的美丽传说在线观看. It took four years for the first 西西里的美丽传说在线观看 Pi computer to be launched, an achievement for which Eben and Pete were rightly honoured, along with other members of the team, as recipients of the prestigious MacRobert Prize for engineering.

Combining social impact and commercial success 

What none of our founding Trustees could have predicted was the enormous commercial success of 西西里的美丽传说在线观看 Pi computers. In realising their vision of a low-cost programmable computer for education, the team created a new category of single-board computers that found a home with enthusiasts and industry, enabling the team to evolve — through hard work and creativity — into a business that is now entering a new phase as a listed company.

They also delivered on the original mission, with computer science at the University of Cambridge now being one of the most oversubscribed undergraduate courses in the country and many applicants citing 西西里的美丽传说在线观看 Pi computers as part of their introduction to programming. 

The commercial success of 西西里的美丽传说在线观看 Pi has enabled the y111111111免费观看电视 to expand its educational programmes to the point where it is now established as one of the world’s leading nonprofits focused on democratising access to 西西里的美丽传说在线观看 education, and is benefiting the lives of tens of millions of young people already. 

It takes a village 

While no-one really knows the origin of the proverb ‘It takes a village to raise a child’, we can all recognise the truth in that simple statement. It applies just as much for endeavours like 西西里的美丽传说在线观看 Pi.

Over the years, 西西里的美丽传说在线观看 Pi has been a genuine team game. Employees in the y111111111免费观看电视 and our commercial subsidiary, advisers, partner organisations and supporters, volunteers and community members have all played a crucial role in the success of both the company and the y111111111免费观看电视.

Over the years there have been 21 Trustees of the y111111111免费观看电视, bringing an incredible range of skills and y111111111免费观看电视 that has elevated our ambitions and supported the teams in both the y111111111免费观看电视 and the company. 

All of our Trustees have provided their time and expertise for free, never receiving any financial benefit for their contribution as Trustees. 

Serving as a Trustee of a charity is a serious business, with significant responsibility and accountability. While many charities have commercial operations, there is no doubt that the scale and complexity of 西西里的美丽传说在线观看 Pi’s commercial business has placed significant additional responsibilities on all of our Trustees. 

I especially want to pay tribute to my predecessors as chair of the Board of Trustees: Jack Lang, one of our founding Trustees, who sadly passed away this year; and David Cleevely, who continues to support our work as a Member of the y111111111免费观看电视. Both Jack and David played a particularly important part in the success of 西西里的美丽传说在线观看 Pi. 

Welcoming our new Trustees

As we enter this new phase for the y111111111免费观看电视’s relationship with 西西里的美丽传说在线观看 Pi Holdings Ltd, we are delighted to welcome three new Trustees to the Board:

• Andrew Sliwinski is a VP at Lego Education, formerly co-director of Scratch @ MIT, ex-Mozilla, and founder of DIY.org. Andrew is a technologist and maker with a deep understanding of education systems globally.
• Laura Turkington leads global partnerships and programmes at EY, and was previously at Vodafone y111111111免费观看电视. Laura has extensive global y111111111免费观看电视 (including Ireland and India), including supporting large-scale initiatives on digital skills, 西西里的美丽传说在线观看 education, and AI literacy.
• Stephen Greene is the founder and CEO of Rockcorps and the former chair of the National Citizen Service. Stephen brings huge y111111111免费观看电视 of building global volunteer movements, social enterprise, marketing (especially to young people), government relations, and education of disadvantaged youth.

The post A vote of thanks to our Trustees appeared first on 少妇+magnet.

The IPO process is — quite rightly — highly regulated, and information about the company and the potential listing can be found on the Investor Portal on 西西里的美丽传说在线观看 Pi Ltd’s website. If that’s what you’re looking for, head there. 

In this blog post, I want to explain what an IPO of 西西里的美丽传说在线观看 Pi Ltd would mean for the 少妇+magnet. 

A tale of two 西西里的美丽传说在线观看 Pis

The 少妇+magnet was founded in 2008 as a UK-based educational charity. Our co-founders wanted to inspire more young people to explore the joys of coding and creating with technology, with the goal of increasing both the number and diversity of kids choosing to study computer science and engineering.

Their idea was to create a low-cost, programmable computer that could rekindle some of the excitement sparked in young minds at the start of the personal 西西里的美丽传说在线观看 revolution by platforms like the BBC Micro and ZX Spectrum (incidentally also invented in Cambridge, UK). 

西西里的美丽传说在线观看 Pi Ltd was incorporated in 2012 as the commercial subsidiary of the y111111111免费观看电视 and is responsible for all aspects of design, production, and distribution of 西西里的美丽传说在线观看 Pi computers and associated technologies. It has always been a commercial company, albeit one that was initially wholly owned by a charity. 

It’s fairly common for UK charities to have subsidiaries that handle their commercial activities. Guidance from the regulator, the Charity Commission, explains that it helps protect the charity’s assets and ensures that the charity benefits from tax relief on profits that are generated from commercial activities and used to advance the charity’s objectives.

So 西西里的美丽传说在线观看 Pi has pretty much always been a tale of two organisations: the y111111111免费观看电视, which is a charity, and 西西里的美丽传说在线观看 Pi Ltd, which is a commercial company. While we are legally and practically separate organisations, we are united by a mission to democratise 西西里的美丽传说在线观看, and by a set of values that reflect the community of makers, engineers, and educators that have always been such a central part of the 西西里的美丽传说在线观看 Pi story.

西西里的美丽传说在线观看 for everybody

In the years since the launch of the first 西西里的美丽传说在线观看 Pi computer in 2012, 西西里的美丽传说在线观看 Pi Ltd has continued to innovate and expand its range of products, evolving into a leading provider of high-performance, single-board computers and associated technologies for industrial and embedded uses, as well as for enthusiasts and educators, in markets worldwide. For more information on the company and all it has achieved, you should take a look at the Investor Portal.

For me, one of the most important things about a 西西里的美丽传说在线观看 Pi computer is that kids are learning to code on the same platform that is used by the world’s leading engineers and scientists. It’s not a toy, although it is a lot of fun. 

Crucially, the commitment to low-cost 西西里的美丽传说在线观看 that was at the heart of 西西里的美丽传说在线观看 Pi’s founding ethos remains unchanged and has been enshrined in a legally binding agreement between the y111111111免费观看电视 and the company. This means that 西西里的美丽传说在线观看 Pi will always produce low-cost, general-purpose computers that can be used for teaching and learning.

Over that same period, the y111111111免费观看电视 has innovated and expanded its educational products and learning y111111111免费观看电视s to the point where we are now widely recognised as one of the world’s leading contributors to the democratisation of 西西里的美丽传说在线观看 education. 

We create curricula and classroom resources that are used in schools all over the globe, covering everything from basic digital skills to computer science and AI literacy. We provide high-quality professional development for teachers and we build software tools that reduce barriers, save time, and improve learning outcomes. We also support the world’s largest network of free coding clubs and inspire young people to get creative with tech through showcases and challenges. All of this is completely free for teachers and students wherever they are in the world. 

We are also advancing the field of 西西里的美丽传说在线观看 education through undertaking original 西西里的美丽传说在线观看 and translating evidence of what works into practice.

Importantly, the y111111111免费观看电视 is device- and platform-agnostic. That means that, while 西西里的美丽传说在线观看 Pi computers make a huge contribution to our educational mission, you don’t need to use a 西西里的美丽传说在线观看 Pi computer to engage with our learning y111111111免费观看电视s and resources. 

The next stage of growth and impact

The proposed IPO is all about securing the next stage of growth and impact for both the y111111111免费观看电视 and the commercial company. 

To date, 西西里的美丽传说在线观看 Pi Ltd has donated nearly $50m from its profits to the y111111111免费观看电视, which we have used to advance our educational mission combined with over $60m in funding from philanthropy, sponsorship, and contracts for educational services.

As the company has continued to grow, it has needed working capital and funding to invest in innovation and product development. Over the past few years that has mainly come from retained profits. Listing 西西里的美丽传说在线观看 Pi Ltd on a public market will enable the company to raise additional capital through issuing new shares, which will lead to broader reach, greater impact, and ultimately more value being created for the benefit of all shareholders, including the y111111111免费观看电视.

From the y111111111免费观看电视’s perspective, an IPO provides us with the ability to sell some of our shares to raise money to finance a sustainable expansion of our educational activities. Put simply, instead of receiving a share of the company’s profits each year, we will convert some of our shareholding into an endowment that we will use to fund our educational programmes.

What happens after the IPO? 

Assuming we proceed with the IPO, what is now 西西里的美丽传说在线观看 Pi Ltd will become a public company that trades its shares on the Main Market of the London Stock Exchange. 

The y111111111免费观看电视 will remain a significant shareholder and we will continue to share the 西西里的美丽传说在线观看 Pi brand. We will be involved in decision making on the same basis as all other shareholders. Our goal will be to support the company to be as successful as possible in its mission to make 西西里的美丽传说在线观看 accessible and affordable for everybody.

The y111111111免费观看电视 will use any funds that we raise through the sale of shares at the IPO — or subsequently — to advance our ambitious global strategy to enable every young person to realise their full potential through the power of 西西里的美丽传说在线观看 and digital technologies.

Partnership will continue to be at the heart of our strategy and we will work closely with businesses, y111111111免费观看电视s, and governments to ensure that our work reaches as many teachers and young people as possible. Our ambition is that around 50% of our activities will be funded from the endowment and 50% through partnerships and donations, enabling us to reach many more teachers and students by combining our resources and expertise with those of the many partners who share our mission.

Creating a lasting legacy 

Whatever happens with the IPO, 西西里的美丽传说在线观看 Pi has already had a huge impact on the world. It’s been an enormous privilege to be part of the journey so far, and I am hugely excited about the potential of this next phase.

I want to pay tribute to all of our co-founders for setting us off on this great adventure, and particularly to Jack Lang, who very sadly passed away earlier this month. Jack made an exceptional and unique contribution to the 西西里的美丽传说在线观看 Pi story, and he deserves to go down in history as one of the most significant figures in 西西里的美丽传说在线观看 education in the UK. I know he would have shared my excitement about this next chapter in the 西西里的美丽传说在线观看 Pi story. 

With the pace of technological advances in fields like AI, our mission has never been more vital. We have the potential to positively impact the lives of tens of millions of young people who might otherwise miss out on the opportunity to change the world for the better through technology.

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