Trustpilot’s revenue grows 80% in one year

The Danish startup, Trustpilot, which specializes in user reviews of companies’ customer service products, has had a growth in revenue of 80% from 2013 to 2014 as well as an growth in reviews by 50% compared to previous years. The companies have realized the value of user reviews, explains the CEO of Trustpilot.

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Trustpilot

Trustpilot is particular interested in the US market, where online shopping is becoming more and more common. Today, 72% of the internet users in North America and Western Europe makes use of online shops. Analyses predict a rise in the global e-commerce by 79% before 2018.

This increases the companies need for credible user reviews. To appear as a serious and reliable online store, it is important to build the trust between you and the customers, which can be done by using Trustpilot’s online reviews.

This development is one of the reasons for Trustpilot to emerge as one of the most successful Danish startup companies, which has made it big on the world stage. Trustpilot got customers in 65 countries, with offices in Copenhagen, London, New York and Melbourne.

The startup launched back in 2007, and contain 12 million reviews of more than 100,000 companies to this day. 10 thousand new customers join every day, and there is a new review written every 5 second.

Companies see the value in user reviews

Trustpilot is one of the leading online platforms for user reviews here in Denmark, and now in the US as well, where it is especially the companies themselves, who are beginning to see the value in user reviews.

“According to a study by Nielsen, is 68% of the consumers using online reviews and recommendations when they decide to buy a product online. This illustrates how essential online reviews are, for companies that want to learn more about their customers and improve the entire customer experience,” explains Peter Holten Muhlmann, CEO of Trustpilot.

Trustpilot currently has a team consisting of 27 employees, who are constantly working to ensure that the guidelines are respected as well as combat fake reviews. The review users make, must be from a concrete purchase experience.

The increased revenue has resulted in a growth from 127 to 325 employees, making the Danish startup represented on three different continents.