-17%

est. 2Y upside i

Series D+

Rank

#3948

Sector

Reputation Management / SaaS

Est. Liquidity

~2Y

Data Quality

Data: High

Trustpilot, a profitable, publicly traded company with a strong brand and network effects, faces significant headwinds.

Last updated: March 10, 2026

Bull (20%)+75%

Trustpilot successfully leverages its strong brand and AI-powered fraud detection to expand its freemium model, capturing a larger share of the $14B SAM. This drives ARR to over $450M by 2028, justifying a $1.23B valuation.

Base (35%)+10%

Trustpilot maintains its market position, growing steadily at ~15-20% YoY, but faces continued pressure from Google Reviews. ARR reaches ~$350M by 2028, leading to a $775M valuation, slightly above current levels.

Bear (45%)-45%

Intense competition from Google and regulatory challenges (Italian authority, short-seller allegations) erode trust and slow new business acquisition. Growth stalls, and a loss of market share leads to a valuation contraction to $387M, significantly impacting common stock value.

Est. time to liquidity~2.0 years

Preference Stack Risk

high

Funding Intensity

26%

Investors hold $180M in liquidation preferences, representing 25.5% of the current $705M valuation.

Dilution Risk

low

As a profitable, publicly traded company with an active share buyback program, significant future dilution from new funding rounds is unlikely.

Secondary Liquidity

active

Trustpilot has an active share buyback program, indicating liquidity for shareholders.

View all 89 open roles at Trustpilot →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Trustpilot's data — designed to show you've done your homework.

  • 1

    “How is Trustpilot planning to mitigate the significant competitive threat posed by Google Reviews, especially in terms of top-of-funnel customer acquisition?”

  • 2

    “Given the recent short-seller allegations and the 'Statement of Objections' from the Italian competition authority, what specific steps is Trustpilot taking to address these regulatory and reputational challenges?”

  • 3

    “With a current valuation of $705M and $180M in total funding, how does the company envision creating substantial returns for common stock holders, particularly considering the preference stack, and what is the anticipated timeline for significant equity liquidity events beyond the current share buyback program?”

Community

Valuation Sentiment

Our model estimates -17% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.