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
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Designers and wealthy buyers order on-platform
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1stDibs takes a 5-50% commission on each sale
02The numbers
$89.6MFiled2025 net revenue
2025-12
the sentence on the page
as well as our key metrics, have historically fluctuated from period to period, with net revenue of $89.6 million, $88.3 million, and $84.7 million during the fiscal years ended December 31, 2025,…
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
🔒
You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
We rate our own confidence — and argue against ourselves. Nobody else in this category does.
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See a full teardown, free → ImportYetiSourcesSources last checked 5 August 2026
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.