Trustpilot IPO could provide big bucks exit for seed backer Draper Esprit
Business reviews platform Trustpilot is believed to be mulling over a stock market flotation as it looks to raise extra growth funding, an event that could provide a mega-profit exit for Draper Esprit (GROW:AIM), the UK venture capital investor.
Draper has been backing Trustpilot for several years, helping to fuel the rapid growth of the internet economy company.
The platform, which provides analytics tools for businesses on customer feedback to help boost engagement, logged its 50 millionth review covering more than 200,000 businesses in October.
Draper Esprit’s stake in the business increased in value from £34.3m to £49.5m in the six months to 30 September.
Reports suggest that Trustpilot has engaged investment banks to look at its options, with an IPO (initial public offering) seen as a natural step in its growth road map.
‘Trustpilot looks to be on a path to IPO in 12 to 18 months at an attractive valuation,’ said one analyst. (SF)