Trustpilot shares soar as firm kicks off £1.1bn London IPO
Shares in online reviews platform Trustpilot rose by 14 per cent in its London stock market debut on Tuesday.
The company has priced the IPO at 265p per share, giving it a market capitalisation of £1.1bn.
The firm launched 161 million shares today, jumping 14 per cent in morning trading.
The IPO will raise £473m for the company, which follows a flurry of technology firms in announcing its intention to float on the London market. Deliveroo priced its IPO at as much as £8.8bn on Monday morning.
Trustpilot was founded in 2007 by CEO Peter Muhlmann in a Danish garage. It has since gained almost 20,000 paying business subscribers and reached total revenues of up to $102m in 2020.
The company’s float will trigger a big payday for its funders – Draper Esprit, Index Ventures, Northzone and Seed Capital, which owns 67 per cent of the company.