London Stock Exchange welcomes Trustpilot to the Premium Segment of the Main Market
Today, global online review platform Trustpilot has taken an important step towards its mission of creating an independent currency of trust by debuting on the Premium Segment of the Main Market on London Stock Exchange.
Trustpilot was founded in 2007 by its Chief Executive Officer, Peter Holten Mühlmann, with a vision to create an independent currency of trust. As a leading global review platform, Trustpilot brings businesses and consumers together, to foster trust and inspire collaboration. Trustpilot hosts reviews to help consumers shop with confidence and deliver rich insights to help businesses improve the experience they offer. The platform is free to use, open to everybody, and built on transparency.
In 2020, Trustpilot achieved annual recurring revenue of approximately US$119 million by the end of the year, and its platform had hosted more than 120 million reviews on over 529,000 domains as of 31 December 2020.
As more and more commerce moves online, businesses are increasingly expected to seek to establish trust online. With the resources from the IPO the company will invest in building out the talent and capabilities needed to take the business to new markets as well as in the product and experiences it offers.
Peter Mühlmann, Founder and CEO of Trustpilot, comments: “Trust is one of a company’s hardest credentials to prove but among the most important to consumers. Our mission is to become a universal symbol of trust, empowering consumers to make confident, informed purchasing decisions while allowing businesses to fill the trust gap by demonstrating the quality of their services and gain actionable insights to improve it.
We have experienced strong growth as both consumers and business have joined, attracted to Trustpilot’s truly open platform where the integrity of reviews is critical.
Today marks an incredible milestone in our history. We couldn’t have done this without the efforts of all the great people at Trustpilot who are continually helping grow our business as we help to promote and protect trust online.
We believe our IPO will allow us to continue the momentum of recent years, providing a platform to deliver new products to more geographies with the very best people, and succeed in our vision to become a universal symbol of trust.”
The Company has engaged Morgan Stanley & Co. International plc and J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) as Joint Sponsors, Joint Global Coordinators and Joint Bookrunners, and Joh. Berenberg, Gossler & Co. KG, London Branch and Danske Bank A/S, London Branch as Joint Bookrunners.