Online review platform Trustpilot Selects London for IPO

LONDON — Online inspection platform Trustpilot said Monday it plans to sell stocks in London, in a stock offering which helps shore up the town’s standing as a financial hub and destination for technology firms following Brexit.

While not yet lucrative, Trustpilot’s net loss narrowed the past year since its earnings rose to $102 million. It is aiming to get a market evaluation of 1 billion pounds ($1.4 billion), according to a individual near the firm who wasn’t permitted to speak openly.

Folks are able to utilize Trustpilot to openly leave comments for companies. Among Trustpilot’s selling points is that it does not allow companies to select and choose which reviews are printed on, or deleted from the stage, as a means to boost transparency and trust.

The business also utilizes technology to weed out unethical articles. Last year it took down 2.2 million testimonials considered to be fake or deceptive, 70 percent of which have been removed from automated systems.

Trusptilot is going people because of boom in online transactions on account of this coronavirus outbreak is driving demand for testimonials. The business stated in its enrollment record that COVID-19 has led to more internet domains carrying Trustpilot testimonials in addition to more customer reviews on its own stage, although it came at the cost of other companies hit by the pandemic through shop closures, travel limitations, and social bookmarking.

The organization, which was set in 2007, says it’s hosted over 120 million testimonials for over 529,000 sites belonging to companies in over 100 country and lands. Its most important economies will be the U.K. and U.S.