Fortune reports that Michael Bruno has trimmed his stake in 1stDibs as the firm raises capital to serve the antiques market:
Antique marketplace 1stdibs has quietly raised between $50 million and $60 million in funding from Insight Venture Partners, Fortune has learned. A portion of the funding went toward buying out the shares of the company’s founder, Michael Bruno, who is no longer involved in the company’s day-to-day operations. Bruno continues to own a 10% stake in the company. The deal values 1stdibs at around $300 million, a source familiar with the company said.