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

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