1stdibs Is Gunning for the Offline Market, CEO Says

The video discusses First Dibs' growth and evolution from an online Paris flea market to a luxury design marketplace. It highlights their recent capital raise, partnerships, and omnichannel strategy, including a new gallery in NYC. The company addresses competition, emphasizing its focus on the luxury market and digital retail challenges. The video concludes with a brief mention of a board member's role at Twitter.

What was the original purpose of founding First Dibs?

• To offer a platform for new and custom designs

• To put the Paris flea market online

• To sell luxury fashion items

• To create a digital marketplace for contemporary art

Who was the lead investor in the recent funding round for First Dibs?

• Artemis

• Morgan Stanley

• Goldman Sachs

• T Rowe Price

How does the partnership with Christie's benefit First Dibs?

• By allowing First Dibs to list items on Christie's website

• By curating a collection marketed through both companies

• By providing exclusive access to Christie's auction items

• By merging both companies into a single entity

What is the significance of the new gallery in New York City for First Dibs?

• It is a venue for exclusive auctions

• It serves as the main office for First Dibs

• It is a storage facility for luxury items

• It complements the online business by offering physical viewing

What is the primary market that First Dibs is targeting with its expansion?

• Mass-market retail

• Digital-only products

• High-value luxury orders

• Low-cost consumer goods

How does First Dibs view its competition in the market?

• As direct competitors in the digital space

• As partners in the luxury market

• As irrelevant to their business model

• As offline alternatives to their offerings

What is the main challenge for First Dibs in the luxury market?

• Competing with Amazon and Walmart for low-cost orders

• Finding suppliers willing to sell online

• Overcoming friction with traditional retail channels

• Establishing a presence in the offline market