The Alibaba and Groupe Artémis-backed upmarket goods marketplace issued 5.75 million shares priced at $20 each.

1stdibs, a US-based designers’ items e-commerce platform backed by e-commerce group Alibaba and fashion and luxury group Groupe Artémis, floated in a $115m initial public offering on Wednesday.

The company issued 5.75 million shares on the Nasdaq Global Market priced at $20 apiece, having initially set an $18 to $21 price range. Shares closed at $28.50 on the first day of trading.

The company had first filed in May this year with a placeholder figure of $100m.

Founded…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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