Trustpilot Group PLC and Flex Legal
Flex Legal was introduced to Trustpilot in January 2021, when they were looking for paralegal support for their IPO. Trustpilot are a Danish-based digital consumer review platform that hosts reviews to help customers shop with confidence, and help businesses improve the experiences they offer.
Trustpilot’s IPO was planned for launch in March 2021, and managing the sheer quantity of data and information relating to the IPO was a big challenge for a small in-house team alongside their day-to-day work. In particular, they needed to create and send individualised documents for over a thousand shareholders including current and former employees. The team needed to track down every shareholder, inform them of the company’s IPO plans, and deal with all of their queries regarding their share options. This involved an enormous volume of data and information management.
Flex Legal was quickly able to offer Trustpilot a high calibre of potential candidates, who were immediately available to support the legal team. Trustpilot decided to go with Julia Wilson, a UCL History graduate, who had achieved a Distinction in her Post-graduate Diploma in Law at BPP Law School, had done the accelerated LPC and was looking for corporate law experience before beginning her Training Contract with top international law firm Orrick.
Julia was diligent, enthusiastic, and brought a lot of energy and commitment to the role. With Julia’s support, the Trustpilot legal team were able to work through the enormous administrative load of work, and prepare their IPO offering on time for launch in March. The Trustpilot IPO went on to raise £473 million at a valuation of £1.4b. Their existing investors sold 161 million shares and the company itself issued a further 17.6 million shares.
“Flex Legal was able to provide support to my team during a really busy time, and very quickly. Having a pool of quality candidates to tap into has enabled us to complete the project successfully in a short timeframe. Finding someone with great intellect, who was enthusiastic and willing to get stuck in, was a big help to us.”
VP of Legal, Risk, and Audit at Trustpilot
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