1stdibs (stylized as 1stDibs) is an
e-commerce
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manageme ...
company. It has an online marketplace, which sells luxury items such as high-end furniture for interior design, fine art and jewelry. The company has been recognized for "pushing the antiques business into the 21st century."
[ Originally founded in ]Paris
Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...
, it is currently headquartered in New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
.
History
1stDibs was founded in 2000 by Michael Bruno as an online luxury marketplace for antiques after he visited the Marché aux Puces
A flea market (or swap meet) is a type of street market that provides space for vendors to sell previously-owned (second-hand) goods. This type of market is often seasonal. However, in recent years there has been the development of 'formal' ...
in Paris, France. 1stDibs.com started as a listings site for art dealers to sell offline, but the site was redesigned in 2013 to give buyers the option to purchase items online.venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
firm Insight Partners
Insight Partners (previously Insight Venture Partners) is an American venture capital and private equity firm based in New York City. The firm invests in growth-stage technology, software and Internet businesses.
History
Insight Partners was fo ...
. Part of that funding went to buy out Bruno's shares, who had stepped away from day-to-day operations. The raise added Deven Parekh
Deven Parekh is an American venture capitalist, philanthropist, Democratic fundraiser and public servant. He is managing director at Insight Partners, a New York City venture capital and private equity firm. Parekh is a noted donor and fundrai ...
from Insight to the company's board.
In March 2019, the company completed a Series D
A venture round is a type of funding round used for venture capital financing, by which startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture funding is among the ...
funding round of $76 million. It has received $170 million in funding to date and has a valuation of more than $500 million. As of February 2019, 1stDibs works with 4,000 dealers in 28 countries.
In December 2019, 1stDibs closed its brick-and-mortar location at Terminal Stores after the new owner of the building began a large-scale construction project.
In March 2021, due to increased online shopping as a results of the COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
and to increased demand via social network
A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for an ...
Instagram
Instagram is a photo and video sharing social networking service owned by American company Meta Platforms. The app allows users to upload media that can be edited with filters and organized by hashtags and geographical tagging. Posts can ...
, 1stDibs showed a 20% increase in demand for its vintage products, with some categories increasing 80%.
In June 2021, the company went public on the Nasdaq
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
, under the symbol DIBS.
References
External links
*{{Official, https://www.1stdibs.com/
Internet properties established in 2000
Retail companies established in 2000
French companies established in 2000
Online marketplaces of France
2021 initial public offerings
Companies listed on the Nasdaq
Companies based in Paris
Publicly traded companies based in New York City