1STDIBSCOM INC

We are one of the world’s leading online marketplaces for connecting design lovers with many of the best sellers and makers of vintage, antique, and contemporary furniture, home d cor, jewelry, watches, art, and fashion. We believe we are a leading online marketplace for these luxury design items based on the aggregate number of listings on our online marketplace and our Gross Merchandise Value ("GMV"). Our sellers, who undergo an evaluation by our in-house experts to vet the quality of their inventory, in-depth marketing content, and custom-built technology platform create trust in our brand and facilitate high-consideration purchases of luxury design items online. By disrupting the way these items are bought and sold, we are both expanding access to, and growing the market for, luxury design.

1stDibs began over two decades ago with the vision of bringing the magic of the Paris flea market online by creating a listings site for top vintage and antique furniture sellers. The quality of our initial seller base enabled us to build a reputation in the design industry as a trusted source for unique luxury design. Since then, we have strengthened our brand as well as deepened and broadened our seller relationships. We launched our e-commerce platform in 2013 and transitioned to a full e-commerce marketplace model in 2016. We had 7.8 million users and approximately 1.9 million listings as of December 31, 2025, compared to 7.0 million users and approximately 1.8 million listings as of December 31, 2024. Users represent non-seller visitors who register on our website and include both buyers and prospective buyers identified by a unique email address.

Our online marketplace seller stock value, the sum of the stock value of all available products listed on our online marketplace, was consistent year over year and exceeded $10.0 billion as of both December 31, 2025 and 2024. An individual listing’s stock value is calculated as the item’s current price multiplied by its quantity available for sale. As of December 31, 2025, we had approximately 5,700 unique sellers, compared to approximately 5,900 unique sellers as of December 31, 2024. In 2024, we shifted our seller acquisition strategy and monetization approach to concentrate on fewer, but more highly engaged sellers and we discontinued the pricing option with no monthly subscription fees and higher commission rates.

We provide our sellers, the vast majority of which we believe are small businesses, access to a global community of buyers and a platform to facilitate e-commerce at scale. Our sellers use our platform to manage their 1stDibs inventory, build their digital marketing presence, and communicate and negotiate prices directly with buyers. We provide our buyers a trusted purchase experience with our user-friendly interface, dedicated specialist support for a certain subset of buyers, and our 1stDibs Promise, our comprehensive purchase protection program outlined in-depth below. The uniqueness, diversity, and high quality of the items on our online marketplace, together with an active marketing effort, have produced a large global base of design-loving buyers. We operate an asset-light business model which allows us to scale in a capital efficient manner. While we enable fulfillment and shipping logistics, we do not take physical possession of the items sold on our online marketplace.