1stDibs
👤 Michael Bruno (A real-estate broker who discovered the Paris flea market in 1999, befriended its dealers, and put them online first.)🌐 site
1stDibs turned a Paris flea-market find into an invite-only marketplace where designers buy rare pieces sight-unseen.
Will it work? · our read
Trusted but capped. A real moat — 25 years of curated trust — around a small, cyclical luxury market. Margins defend well; GMV has not compounded. A durable niche with a hard growth ceiling.
01How the money moves
Vetted dealers list rare design, art, and watches
→
Designers and wealthy buyers order on-platform
→
1stDibs takes a 5-50% commission on each sale
02The numbers
$362M
GMV, 2024
10-K
about 24%
take on GMV
our calc
64,306
active buyers
10-K
GMV is buyer spend, not revenue; 1stDibs keeps only its commission. Net revenue was $88.3M in 2024. FY2024 10-K
$89.6M net rev (2025) · $362M GMV · Nasdaq: DIBS
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FY2025 results: net revenue $89.6M (Businesswire)FY2024 results: GMV $362.3M, net revenue $88.3MFY2024 10-K: 5-50% take rate, 64,306 active buyersMichael Bruno: Paris flea market originJune 2021 IPO at $20 (Nasdaq: DIBS)
Revenue and GMV are FILED, from 1stDibs' SEC filings and earnings releases (Nasdaq: DIBS). FY2025 net revenue $89.6M and FY2024 GMV $362.3M with 64,306 active buyers are as reported. The about-24% take rate is my own calc (net revenue divided by GMV). GMV is buyer spend, not revenue — 1stDibs keeps only its 5-50% commission. The plateau read is well-supported: flat GMV, net revenue stuck near $85-90M for three years, and the stock down about 80% from its 2021 IPO. Michael Bruno's origin is from Wikipedia and 1stDibs' own story page; he is the founder but no longer CEO, and his current personal socials were not confirmed, so only the product site link is included. We never score you.