SCHEDULE 13G/A: Benchmark Capital Entities and Members Disclose Significant 20% Stake in 1stdibs.com, Inc.

Multiple Benchmark Capital funds and their managing members have collectively disclosed a beneficial ownership of up to 20.0% in 1stdibs.com, Inc. common stock as of December 31, 2024.

Summary

• Benchmark Capital Partners V, L.P. (BCP V) beneficially owns 2,793,941 shares, representing 7.7% of 1stdibs.com, Inc. common stock.
• Benchmark Founders' Fund V, L.P. (BFF V) beneficially owns 342,366 shares, representing 0.9%.
• Benchmark Founders' Fund V-A, L.P. (BFF V-A) beneficially owns 65,550 shares, representing 0.2%.
• Benchmark Founders' Fund V-B, L.P. (BFF V-B) beneficially owns 51,580 shares, representing 0.1%.
• Benchmark Capital Management Co. V, L.L.C. (BCMC V) has sole voting and dispositive power over 3,653,916 shares, representing 10.0%, which includes shares held by the 'V' series funds and 400,479 shares held in nominee form for associated persons.
• Benchmark Capital Partners VII, L.P. (BCP VII) beneficially owns 2,903,971 shares, representing 8.0%.
• Benchmark Founders' Fund VII, L.P. (BFF VII) beneficially owns 322,512 shares, representing 0.9%.
• Benchmark Founders' Fund VII-B, L.P. (BFF VII-B) beneficially owns 427,433 shares, representing 1.2%.
• Benchmark Capital Management Co. VII, L.L.C. (BCMC VII) has sole voting and dispositive power over 3,653,916 shares, representing 10.0%, which includes shares held by the 'VII' series funds.
• Individual members of Benchmark Capital Management Co. V and/or VII, including Bruce W. Dunlevie, Peter Fenton, J. William Gurley, Kevin R. Harvey, and Mitchell H. Lasky, are deemed to have shared voting and dispositive power over an aggregate of 7,307,832 shares, representing 20.0% of the class.
• Alexandre Balkanski and Robert C. Kagle are deemed to have shared power over 3,653,916 shares (10.0%) through BCMC V.
• Matthew R. Cohler is deemed to have shared power over 3,653,916 shares (10.0%) through BCMC VII, plus 60,905 shares with sole power, totaling 3,714,821 shares (10.2%).

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the company's operational or financial performance.

Positives

• The continued significant beneficial ownership by a prominent venture capital firm like Benchmark Capital and its key members may signal ongoing investor confidence in 1stdibs.com, Inc.

Negatives

• The filing itself does not contain negative financial or operational information.

Risks

• The concentration of a significant portion of voting and dispositive power (up to 20.0%) in a few individuals associated with Benchmark Capital could influence corporate decisions and strategic direction.

Future Outlook

NA

Industry Context

This Schedule 13G filing is a routine disclosure of significant beneficial ownership by an institutional investor group and its principals. It does not provide broader industry context or trends.

Related Party Transactions

• 400,479 shares are held in nominee form for the benefit of persons associated with Benchmark Capital Management Co. V, L.L.C. (BCMC V).

Stakeholder Impact

• Shareholders: Provides transparency on significant institutional and individual ownership, which can influence market perception and liquidity.

Key Dates

Keywords

1stdibs.com, Benchmark Capital, SEC filing, Schedule 13G, beneficial ownership, common stock, institutional investor, venture capital, shareholding disclosure