1stdibs.com, a NYC-based company which owns and operates a marketplace for luxury furnishings, jewelry, fine arts and vintage fashion, raised $76m in Series D funding.
The round was led by funds and accounts advised by T. Rowe Price Associates with participation from Groupe Artémis, which is the controlling shareholder of Kering Group and owns the fine auction house Christie’s; Foxhaven Asset Management; Sofina Group; Michael Zeisser, former chairman of U.S. Investments for Alibaba Group; and Allen & Company.
The company, which has raised $170m in primary capital to date, plans to use the funds to invest in its core business, grow adjacent categories, expand internationally and make strategic acquisitions.
Founded in 2001 and led by CEO David Rosenblatt, 1stdibs connects buyers with vintage and contemporary luxury design. The site works with more than 4,200 furniture, fine art, jewelry and watch dealers dealers in 43 countries and attracts over 28 million visitors from across the globe.
After the company transitioned to an e-commerce model in 2013, sales grew to $250 million in 2018, a CAGR of nearly 100 %.
FinSMEs
28/03/2019