1stdibs.com Secures $76 Million in Series D Funding
Luxury furnishings, jewelry, fine arts, and vintage fashion marketplace 1stdibs.com closed a Series D funding round of $76 million led by funds and accounts advised by T. Rowe Price Associates, Inc. Other investors include Groupe Artémis (the controlling shareholder of Kering Group and owner of the fine auction house Christie’s), Foxhaven Asset Management, Sofina Group, former chairman of US investments for Alibaba Group Michael Zeisser, and Allen & Company.
1stdibs was founded in 2001 to bring the Paris flea markets online. According to the company, it connects buyers with the world’s best vintage and contemporary luxury design with 4,200 dealers in 43 countries, attracting 28 million visitors. After the company transitioned to an e-commerce model in 2013, sales grew to $250 million in 2018, a CAGR of nearly 100 percent.
1stdibs plans to use the proceeds to invest in its core business, grow adjacent categories, expand internationally, and make strategic acquisitions.