DIBS - 1stDibs CEO: COVID accelerated trend to retail digitation considered SPAC for IPO

designer491/iStock via Getty Images David Rosenblatt, head of new IPO 1stDibs (DIBS), said Thursday that it will continue to drive sales in a post-COVID world, as the pandemic only accelerated a long-term trend to online marketplaces. In an interview with CNBC ahead of the company's Wall Street debut, the CEO of the online antiques marketplace also provided some details of its IPO decision process. Rosenblatt said the firm opted for a traditional path to the public market because it offered significant advantages over a SPAC, which 1stDibs also considered. Asked about a sales bump that occurred during the pandemic, Rosenblatt conceded that the firm benefited from COVID and the general work-from-home environment that it spawned. However, the 1stDibs CEO did not feel this was a fleeting trend. Instead, he argued that it only accelerated a long-term shift toward retail digitization. As evidence for this, he cited company data that showed that

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1stDibs CEO: COVID accelerated trend to retail digitation, considered SPAC for IPO