Why invest in Trustpilot
In a world where trust and transparency matter more than ever, Trustpilot is well-positioned for sustainable growth. With a clear vision, a trusted brand, and a proven track record of growth and margin improvement, we create lasting value for both customers and stakeholders.
19%
2024 revenue growth
(Trustpilot)
11.4%
2024 adjusted EBITDA margin
(Trustpilot)
103%
2024 LTM net dollar retention rate
(Trustpilot)
With over 300 million reviews, our independent and open platform empowers people to make more informed decisions. It also helps businesses build trust, grow, and improve with insights that go beyond headline ratings. By fostering this layer of mutually beneficial trust, Trustpilot creates socio-economic value in the communities it serves.
Investment Case
A unique value proposition built on trust
Trustpilot is a purpose-driven business founded on trust and transparency. We maintain the integrity of our platform and its content through sophisticated fraud detection systems, backed by our dedicated content integrity, fraud, and investigations teams. Together, we protect the authenticity of reviews, support the detection and removal of fake content, and take action against platform misuse. Our guidelines and policies set the foundation for Trustpilot as a trusted and collaborative space for everyone. We also engage with regulators and peers to build trust in reviews.
High-margin business model with network effects
Trustpilot is an open platform, meaning anyone can write a review about any business, and every business can read and respond, for free. We monetise through a SaaS model with a dual-sided platform that leverages network effects and provides businesses with tools to invite reviews, respond to feedback, showcase content, and benchmark performance.
With a clear vision and strategy, we continuously invest in product development, people, and culture to establish a strong foundation for future growth.
Huge market opportunity
Trust is built through community, and word of mouth alone is no longer enough. Yet trust remains essential for commerce, and Trustpilot is uniquely positioned to meet this need. Our strong consumer brand, growing network, and expanding market presence collectively demonstrate the potential for significant growth. With an estimated total addressable market of $50 billion (excluding China, OC&C, 2021), we operate across verticals and geographies, both online and offline, and support businesses of all sizes. Consumers trust our brand, which influences their purchasing decisions, and this makes a good Trustpilot score invaluable to businesses.
Proven track record of value execution
Trustpilot has a strong track record of delivering consistent annual growth and margin improvement, with clear capital discipline that drives shareholder value. Our revenue has grown at a compound annual growth rate (CAGR) of 20% since 2020, and we achieved a record adjusted EBITDA margin of 11.4% in 2024, with $43m of capital returned to shareholders.
The universal symbol of trust
Trustpilot's vision is to be the universal symbol of trust. Our mission is to build trust between businesses and consumers by making Trustpilot visible at every consumer touchpoint across the globe. Trustpilot everywhere.
Our open platform hosts millions of consumer reviews, empowering people to make informed choices while helping businesses build trust, grow, and improve.
As a dual-sided platform, the more authentic reviews that are shared, the richer the insights we can provide to businesses, which in turn, boosts their ability to earn trust.
We protect the integrity of our platform with advanced fake review detection technologies and dedicated teams who take decisive action against those who violate our guidelines.
Our culture and values guide our approach to everything we do
We start with the customer
We obsess over consumer and business problems, using trust as our guide.
We act with integrity
We do the right thing, even when it’s hard.
We are positively human
We care about each other and embrace diversity.
We make it happen
We deliver on commitments to drive impact.
We win together
We’re one team, externally competitive, but internally collaborative.
We are a purpose-driven business
We help customers be better informed
Trustpilot enables people to be heard by the businesses that shape their world, and helps businesses to act on that feedback to improve.
We help businesses learn and improve
We offer businesses strategic insights to learn from their customers, improve, and grow revenue. Showcasing ratings and responding to reviews builds consumer trust which supports growth.
We help employees be their best
Our employees are essential and we aim to attract, inspire and engage a talented and diverse workforce, whilst delivering our purpose.
We deliver returns for shareholders
We are committed to delivering returns for our shareholders and have a clear capital allocation framework which prioritises investment in the business for growth.
Our latest annual report
For more on how we’re shaping and safeguarding a trusted community for businesses and consumers worldwide, read our Annual Report.
