Leading online review platform Trustpilot – whose software allows customers to review businesses – is said to be looking at a flotation on the London Stock Exchange as early on every bit Q1 in 2021.
The Copenhagen-based fellowship is inward talks with several major investment banks. A world list in London would be a slap-up boost for the City’second reputation equally a domicile for globe-leading tech firms, too comes at a crucial fourth dimension when the Great Britain’s fiscal sector is feeling the strain of a looming Brexit that could threaten its position every bit a global fiscal powerhouse.
Trustpilot, which was founded inward 2007, generates more than £75m inward annual revenue from its subscription-focused business model. This agency it could accomplish ‘unicorn’ status on its flotation – defined as a fellowship worth more than than $1bn – or £775m.
The house, which employs more than 700 people inward offices across the U.S., Europe too fifty-fifty Australia, would live probable to expand its business organisation quickly on the dorsum of a public flotation.
The move would also probable essay very profitable for electric current backers of Trustpilot – the companionship raised funds of more than than £40m just final twelvemonth from a Series due east circular of investment. These included Sunley House Capital Management too Draper Esprit.
At the Helm of the reviews site is Brit Tim Weller, who has a runway record of taking companies through IPOs. Trustpilot likewise brought inwards Angela Seymour-Jackson, a managing director of Esure, to its board concluding twelvemonth.
Fake Reviews And System Abuse
For all its success, Trustpilot has faced challenges inwards the by, however, peculiarly over criticism that it was failing to forestall false reviews on the site.
It has since introduced measures to curb this sort of activity, including a feature that lets users see how many complaints have been deleted from a detail fellowship. In August, it revealed that it would develop farther functionality to ensure the veracity of its reviews.
For all the lingering concerns over false reviews on the Trustpilot platform, withal, at that place’sec no incertitude that the flotation of a tech-sector success on the LSE would live an important fillip for a stock exchange that has been largely devoid of meaning flotations in 2020.