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  "documentTitle": "Trustpilot Group PLC (TRST)",
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  "notes": "The slide uses a specific case study (UK broadband) to illustrate a broader thesis of 'extortion' by the platform.",
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      "text": "THE REPORT AND ALL STATEMENTS CONTAINED HEREIN ARE THE OPINIONS OF GRIZZLY RESEARCH...",
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      "text": "Interestingly, one and the same company, Vodafone, seems to only pay Trustpilot for the U.K. market, where Trustpilot is more commonly used by consumers than in the other markets.",
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      "text": "The brands in the table all have sufficient market penetration and, according to our research, fairly similar customer satisfaction. We checked multiple other review sites and the stark contrast in Trustpilot review scores seems unjustifiable.",
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      "text": "Data retrieved on November 27, 2025. Market shares by fibrecompare.com",
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      "text": "The “Trustpilot Mafia” – How the Extortion Model Destroys Trustpilot’s Value Proposition",
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