Trustpilot Shares Fall Sharply Following Allegations of Coercive Sales Tactics

Shares of the online review platform Trustpilot dropped dramatically on Wednesday. The decline followed a report from short-selling firm Grizzly Research, which accused the company of using aggressive pressure to boost sales. Grizzly Research alleges that Trustpilot employed what it called “mafia-style” practices. The report claims sales representatives pressured businesses to pay for subscription services. The implication, according to Grizzly, was that a company's rating and review moderation could improve if it became a paying customer. Trustpilot has publicly rejected the allegations. The company stated that its sales teams operate under strict ethical guidelines and do not manipulate reviews. It emphasized that the core function of its platform—collecting and publishing consumer feedback—operates independently from its sales department. The significant market reaction highlights investor sensitivity to allegations about Trustpilot’s business model. The company’s credibility depends on maintaining user trust in the neutrality of its reviews. Trustpilot says it is reviewing the details of the short-seller’s report and remains confident in its operations.