PE-backed Trustpilot to list in H1 next year – report

Eliza Punshi
30 October 2020

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Danish internet ratings company Trustpilot is preparing for an initial public offering in H1 2021 and has mandated JP Morgan and Morgan Stanley to advise on the process, according to press reports.

According to Sky News, the company is in "regular contact" with prospective advisers and investors.

The planned listing is likely to take place in H1 2021 if market conditions are suitable, the report said.

Trustpilot generated revenues of more than $100m, the item said, adding that the company could make its market debut at a valuation of $1bn.

The company's most recent funding round was a $55m series-E round in March 2019, led by Advent International affiliate Sunley House Capital Management, while Vitruvian Partners, Draper Esprit, Index Ventures, Northzone and Seed Capital also took part.

According to Unquote Data, the company has raised around $200m in funding since being founded.

Established in 2007 and based in Copenhagen, Trustpilot is an online multi-language review company that enables consumers to leave positive or negative reviews about an online merchant. The company has additional offices in New York, London, Denver and Melbourne. It employs 800 people.