Monday 1 March 2021 8:03 am

Reviews website Trustpilot set for London IPO

Trustpilot is considering launching an initial public offering in London that would see at least a quarter of the company floated on the London Stock Exchange.

The offer would comprise new shares raising proceeds of around $50m, the company announced on Monday.

Trustpilot is targeting a premium listing on the London market and expects to be eligible for inclusion in the FTSE UK indices.

If a deal is successful, it would be the third major London listing in 2021 so far, with boot brand Dr Martens and online card retailers Moonpig completing IPOs earlier in the year.

Opportunity for growth

Timothy Weller, chairman of Trustpilot, said a public offering will define and grow the business.

“With fast growth, a proven subscription-based business model and high gross margins underpinned by a modern, highly scalable technology platform, we have all the attributes required to thrive as a listed business,” Weller said.

Trustpilot is global review platform which creates a place for businesses and consumers to gain insights and collaborate about a range of services.

The company was founded in 2007 and aims to provide a trust layer by giving customers confidence to purchase goods from businesses across the world.

‘Significant landmark’

Peter Holten Mühlmann, CEO of Trustpilot, described the announcment as a ‘significant landmark’ in the firm’s development.

“We believe that an IPO of the business will allow us to continue the momentum of recent years, providing a platform to deliver new products to more geographies, and succeed in our vision to become a universal symbol of trust.”