1stdibs
{{Short description|American e-commerce company}}
{{Infobox company
| name = 1stdibs.com, Inc.
| logo = 1stdibs 2020 Logo.png
| logo_size =
| type = Public{{cite web | url=https://www.ft.com/content/115a67c6-3ae3-11e7-ac89-b01cc67cfeec | title=New kids on the block: rise of the online art auction | publisher=The Financial Times | date=17 May 2017 | accessdate=1 August 2019 | author=Spero, Josh}}
| traded_as = {{nasdaq|DIBS}}
| founder = Michael Bruno{{cite web | url=https://www.wsj.com/articles/the-treasures-of-1stdibs8217s-michael-bruno-1392318778 | title=The Treasures of 1stdibs's Michael Bruno | publisher=The Wall Street Journal | date=13 February 2014 | accessdate=3 August 2019 | author=Rosman, Katherine}}
| hq_location = 300 Park Avenue South
| hq_location_city = {{nowrap |New York City}}
| area_served = Worldwide
| key_people = David Rosenblatt (CEO)
| products =
| brands =
| production =
| production_year =
| services =
| revenue = {{decrease}} US$85 million (2023)
| revenue_year =
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| num_employees = 237 (2023){{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1600641/000160064124000022/dibs-20231231.htm |title=2023 Annual Report (Form 10-K) |date=29 February 2024 |publisher=US Securities and Exchange Commission}}
| industry = E-commerce
Online marketplace
| founded = {{Start date and age|2000}}, in Paris, France{{cite web | url=https://www.digitalcommerce360.com/2018/09/28/how-1stdibs-com-carved-out-a-luxe-e-commerce-niche/ | title=How 1stdibs.com carved out a luxe e-commerce niche | publisher=Digital Commerce 360 | date=28 September 2018 | accessdate=4 August 2019 | author=Evans, Katie}}
| website = {{URL|https://1stdibs.com/}}
}}
1stdibs.com, Inc. (stylized as 1stDibs) is an American e-commerce company. It has an online marketplace, which sells luxury items such as high-end furniture for interior design, fine art and jewelry.{{cite web | url=https://www.entrepreneur.com/article/248004 | title=How This Site Became the Go-To Marketplace for Rare and Antique Goods | publisher=Entrepreneur | date=27 July 2015 | accessdate=1 August 2019 | author=Ankeny, Jason}}{{cite web | url=https://www.ft.com/content/bfbda89a-b148-11e4-831b-00144feab7de | title=1stdibs spies jewellery opportunity | publisher=The Financial Times | date=18 March 2015 | accessdate=1 August 2019 | author=Garrahan, Rachel}} The company has been recognized for "pushing the antiques business into the 21st century." Originally, founded in Paris, it is currently headquartered in New York City.
History
1stDibs was founded in 2000 by Michael Bruno as an online luxury marketplace for antiques after he visited the Marché aux Puces in Paris, France.{{cite web | url=http://www.chicagobusiness.com/article/20130413/ISSUE03/304139998/the-game-changer-for-antiques-shops | title=The game-changer for antiques shops | publisher=Crain's Chicago Business | date=13 April 2013 | accessdate=1 August 2019 | author=Little, Rebecca}} 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. The company has received praise for restricting its listings to authorized dealers for authenticity,{{cite web | url=https://www.forbes.com/sites/pamdanziger/2018/03/15/1stdibs-already-decorates-the-homes-of-the-wealthy-now-it-wants-to-fill-their-lives/#563491a26256 | title=1stdibs Already Decorates The Homes of The Wealthy; Now It Wants To Fill Their Lives | work=Forbes | date=15 March 2018 | accessdate=4 August 2019 | author=Danziger, Pamela}} and scrutiny for preventing dealers from completing a negotiation offline to avoid the company's commission fees.{{cite web | url=https://www.nytimes.com/2016/03/11/style/1stdibs-commission-antique-dealers.html | title=Antique Dealers Protest New 1stdibs Rules | work=The New York Times | date=11 March 2016 | accessdate=1 August 2019 | author=Kurutz, Steven}}
In 2015, 1stDibs raised $50 million from venture capital firm Insight Partners. Part of that funding went to buy out all shares held by Bruno, who had stepped away from day-to-day operations. The raise added Deven Parekh from Insight to the company's board.{{Cite web|last=Griffith|first=Erin|title=Exclusive: 1stdibs quietly raised $50 million from Insight Venture Partners|url=https://fortune.com/2015/09/09/1stdibs-funding/|url-status=live|access-date=2021-06-16|website=Fortune|language=en|archive-url=https://web.archive.org/web/20150910014626/http://fortune.com/2015/09/09/1stdibs-funding/ |archive-date=2015-09-10 }}
In March 2019, the company completed a series D funding round of $76 million. It has received $170 million in funding to date and has a valuation of more than $500 million.{{cite web | url=https://www.architecturaldigest.com/story/1stdibs-raises-dollar76-million-series-d-funding | title=1stdibs Raises $76 Million in Series D Funding | publisher=Architectural Digest | date=28 March 2019 | accessdate=2 August 2019 | author=Luckel, Madeleine}}{{cite web | url=https://www.wsj.com/articles/marketplace-1stdibs-grabs-76-million-to-expand-luxury-platform-11553772600 | title=Marketplace 1stdibs Grabs $76 Million to Expand Luxury Platform | publisher=The Wall Street Journal | date=28 March 2019 | accessdate=2 August 2019 | author=Roof, Katie}} As of February 2019, 1stDibs works with 4,000 dealers in 28 countries.{{cite web | url=https://www.nytimes.com/2019/02/11/style/1st-dibs.html | title=1stdibs Inches Closer to the One Percent | work=The New York Times | date=11 February 2019 | accessdate=1 August 2019 | author=Green, Penelope}}
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.{{Cite web|last=Luckel|first=Madeleine|title=1stdibs Shutters Gallery, Michael S. Smith Debuts Direct-to-Consumer Line, and More News This Week|url=https://www.architecturaldigest.com/story/1stdibs-shutters-gallery-michael-s-smith-debuts-direct-to-consumer-line-and-more-news-this-week|access-date=2020-07-30|website=Architectural Digest|date=20 December 2019 |language=en-us}}
In June 2021, the company went public on the Nasdaq, under the symbol DIBS.{{cite web|title=1stdibs.com, Inc. Announces Closing of Initial Public Offering|url=https://finance.yahoo.com/news/1stdibs-com-inc-announces-closing-212200302.html?fr=sycsrp_catchall|website=Yahoo! Finance|date=June 15, 2021}}
References
{{Reflist}}
External links
{{Commons category}}
- {{Official|https://www.1stdibs.com/}}
Category:Internet properties established in 2000
Category:Retail companies established in 2000
Category:French companies established in 2000
Category:Online marketplaces of France
Category:2021 initial public offerings
Category:Companies listed on the Nasdaq