Today, Trustpilot is one of the leading online platforms for user reviews. Customers review their shopping experience with a company and thereby allowing other customers to get more knowledge before deciding for a purchase. For the companies, the reviews, both good and bad ones, opens possibilities to build credibility, popularity and reputation for the companies.
A successful year
Trustpilot has certainly had a great development between the years of 2013 and 2014. The company just reported a growth of 80%, which is truly remarkable. Additionally, last year Trustpilot received an investment of approximately 18 million euro from SEED Capital och Northzone. This is the single largest investment ever for a Danish company.
At the present, 12 million people in 65 countries have reviewed 100 000 companies. A new review is written every five seconds around the world. Peter Holten Mühlmann, CEO of Trustpilot, explains the progress:
”According to a study by Nielsen, 68% of online consumers uses reviews and recommendations when they decide to buy a product. It illustrates how essential online reviews are for companies that want to learn more about their customers and improve the entire customer experience”
It has taken Trustpilot seven years of hard work to go from a start up company in 2007 to a successful business close to entering the US stock market. During that time, the company has increased its workforce from 127 to 325 people, of which 27 of them explicitly works on combating fake reviews. Today Trustpilot has offices in Copenhagen, London, New York and Melbourne. With this fantastic development, the Danish company is only believed to flourish even more!