1Stdibs

Market position

Described in company materials and press coverage as a leading global online marketplace for luxury and vintage design. As of February 2019 it worked with 4,000 dealers in 28 countries per one account, while a March 2019 company release cited more than 4,200 dealers in 43 countries and over 28 million site visitors. The company has been credited with "pushing the antiques business into the 21st century."

Restriction of listings to vetted, authorized professional dealers for authenticity; in-house expert curation of thousands of newly added items each week; buyer protections including authenticity and money-back guarantees, price matching and protected global delivery; and integrated buyer-seller messaging that supports negotiation and customization requests.

Technology

Web marketplace platform at 1stdibs.com plus a consumer mobile app, supporting one-click purchase or negotiated pricing, saved searches, personalized shopping recommendations and direct buyer-seller messaging. The CTO role is described as building and maintaining scalable systems for the business.

Go-to-market

Direct-to-consumer online acquisition supported by editorial content (Introspective magazine, a podcast), email marketing with shopping suggestions, promotions and editors' picks, curated collections, a mobile app, and a trade program targeting interior designers. The CMO/CPO role spans product and design for the site and app, communications, paid and organic social, editorial, brand, customer support and logistics.

Design-focused consumers and luxury shoppers seeking vintage, antique and contemporary furniture, décor, art, jewelry, watches and fashion, plus interior designers and other design trade professionals served through the Trade 1st program and an interior designer directory. On the supply side, professional antique, art, jewelry and design dealers and makers.

Geography

Headquartered in New York City (300 Park Avenue South) and serving customers worldwide; originally founded in Paris, France. Company statements have cited dealers in more than 600 cities and, as of 2019, 4,200 dealers across 43 countries.

History

The site began as a listings service on which art and antique dealers advertised inventory for offline sale. In 2011 Bruno accepted a $60 million investment from Benchmark, stepped down as CEO while remaining chief creative officer, and David Rosenblatt — formerly CEO of DoubleClick, which he sold to Google in 2008 — joined as CEO. In 2013 the site was redesigned to allow buyers to purchase online, shifting the business to an e-commerce model; company statements say sales grew to $250 million in 2018, a CAGR of nearly 100 percent since the transition. In 2015 the company raised $50 million from Insight Partners, part of which bought out all shares held by Bruno, and added Insight's Deven Parekh to the board. A $76 million Series D closed in March 2019, bringing total primary capital to $170 million at a valuation of more than $500 million. The company closed its Terminal Stores brick-and-mortar gallery in December 2019 after the building's new owner began a large construction project. 1stDibs went public on Nasdaq in June 2021 under the ticker DIBS, raising $112 million at a valuation of roughly $773 million. Revenue subsequently declined 13% in 2023 to $84.7 million before a restructuring effort.

Risks & controversies

Wikipedia notes the company drew scrutiny and dealer protest over rules preventing dealers from completing negotiations offline to avoid commission fees, referencing a 2016 New York Times report on antique dealers protesting new 1stDibs rules. Post-IPO performance was described as turbulent, with revenue falling 13% in 2023; the Wikipedia article also carries a maintenance banner indicating a possible conflict of interest by a major contributor, and reports a depressed housing market as a key headwind with a return to GMV growth not expected until Q4 2026.