Trustpilot: Denmark’s tech unicorn puts its trust in London

Founded in Denmark in 2007, Trustpilot has developed into a global review platform with a mission to create a universal symbol of trust. Joining the premium segment of London’s Main Market, with its high standards of regulation and corporate governance, was an obvious choice for the first Danish tech unicorn to list in London.

Tech in London

In just over a decade, Trustpilot has grown from a start-up into a global platform and now, the first Danish tech unicorn to list in London. Trustpilot brings businesses and consumers together through over 120 million consumer reviews, building an independent currency of trust. Trustpilot joins a growing group of dynamic tech companies who are choosing to list in London and gain access to one of the largest and most active capital markets in the world with a total equity value of over £5 trillion.

Julia Hoggett, CEO, London Stock Exchange plc

An interactive session with Peter Holten Muhlmann, Founder, Trustpilot

Was an IPO always part of your strategic vision for Trustpilot?

When I first started the business in my parent’s garage, it was initially as a side business to my e-commerce start-up. I never thought that his idea would grow to the size it is now, but the mission to become a universal symbol of trust has not changed and the IPO was the natural next step for Trustpilot in order to achieve that objective.

An IPO is a milestone for Trustpilot but there have been many pivotal moments in the company’s development. Which key moments do you feel are the most important?

There have been so many pivotal moments since starting the business. These key moments were defining at every stage of Trustpilot's growth. I was proud when I first started the business and delighted to have received initial funding. Each stage of funding since has been pivotal, allowing us further opportunity and impetus to scale the services we offer and the territories we could operate in.

Opening and stepping into our offices in some of the major cities across the world - Copenhagen, London, New York, Denver, Melbourne, Vilnius and Edinburgh - has really brought home how applicable the concept of Trustpilot is to consumers and businesses all over the world.

Finally, it has been the people who have worked at Trustpilot (we call them Trusties), who have helped create and shape these moments. We wouldn’t be here without the hard work, inspiration and dedication of everyone who has been part of the journey so far. 

What is the scale of the opportunity in front of Trustpilot, and how will the IPO enable the company to achieve continuing sustainable growth?

We think the total market is worth over $50bn and growing, driven by an evolution in the way consumers purchase goods and services and how businesses seek to engage and learn from their customers.  It is an exciting time for Trustpilot and the IPO will allow us to continue our strong momentum. We will continue to invest in growth by developing our technology platforms, expanding in current markets and entering new ones with new products and services. 

We already operate in many key territories globally and reviews are written in more than 100 countries. As we expand further, there will undoubtedly be challenges along the way, but we have the right blend of people, processes and technology to ensure that trust and transparency remain at the very core of what we do. Maintaining the highest of standards of trust and transparency will be paramount to our continued growth and success.

Trustpilot has chosen to list on the Premium segment of London's main market. What were the main reasons for this?

The Premium segment has the UK’s highest standard of regulation and corporate governance. As a company with trust and transparency at the heart of what we do, this was an obvious choice. We hope to build on our already strong investor confidence through this greater transparency.

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