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Benzinga
Benzinga
Business
Shivani Kumaresan

1stdibs Divests Design Manager To Performant Capital

Nasdaq Chicago
  • 1stdibs.Com, Inc. (NASDAQ:DIBS) has sold Design Manager to the Chicago-based private equity firm Performant Capital for an undisclosed sum.
  • Design Manager is a project management and accounting software company for the interior design industry.
  • Design Manager offers software workflow solutions, and clients use the platform to manage design projects totaling $2 billion in billings annually.
  • "Design Manager has been a strong performer since we acquired the business in 2019. Given our focus on areas like auctions and international expansion, we made the decision to seek an owner who is both able and excited to increase investment in Design Manager," said CEO David Rosenblatt.
  • Price Action: DIBS shares are trading lower by 3.05% at $5.73 on the last check Wednesday.
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