Luxury e-commerce website 1stDibs shares rise in market debut

Online luxury goods marketplace 1stDibs received a warm welcome from investors during its first day trading on the Nasdaq.

The firm’s shares climbed more than 40% from the starting price Thursday to reach about $28.50. That was after the company elected to price its shares at $20, near the top end of the price range 1stDibs projected last month. The company raised about $115 million from the initial public offering.

“What matters in the long-term is not the first-day price but how we operate as a company.,” CEO David Rosenblatt said. “But I think we are off to a good start.”

Founded two decades ago as a

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/luxury-e-commerce-website-1stdibs-shares-rise-in-market-debut"]

Latest Articles

Related Articles