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Online luxury goods marketplace 1stDibs sets terms for $112 million IPO

June 2, 2021
DIBS, an online marketplace for art, jewelry, antiques, and other luxury goods, announced terms for its IPO on Wednesday.

The New York, NY-based company plans to raise $112 million by offering 5.8 million shares at a price range of $18 to $21. At the midpoint of the proposed range, would command a fully diluted market value of $773 million.

1stDibs is an online marketplace that connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. The company states that the uniqueness, diversity, and high quality of products on its marketplace, together with an active marketing effort, has given 1stDibs a large, global, and growing base of buyers. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year with an average aggregate purchase per year of over $5,500. was founded in 2000 and booked $90 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol DIBS. BofA Securities, Barclays, Allen & Company, and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of June 7, 2021.