Whatnot is a US-based e-commerce company launched by Grant LaFontaine and Logan Head that has a mission of to build a community-driven marketplace where buyers and sellers can shop, sell, and connect. The company recently announced it raised $225 million in Series F funding at a valuation of $11.5 billion. The funding round was co-led by DST Global and CapitalG, with participation from our new investors Sequoia Capital and Alkeon Capital and returning investors Greycroft, Andreessen Horowitz, avra, and BOND.
Whatnot provides a live stream shopping marketplace where sellers host real-time video streams to showcase items, interact with buyers in chat, and conduct auctions or buy-now transactions. The platform also supports more traditional listing formats (still-item marketplace) for those who are not doing live streams. Whatnot’s revenue is generated by taking transaction fees (a share of seller sales) and by enabling payments, shipping, and logistics tools.
Whatnot initially focused on collectibles (e.g., toys, trading cards) and sneakers, and then rapidly expanded into over 100 categories, including fashion, electronics, comics, home & garden, and more. Buyers join live shows, chat with hosts and other buyers, and benefit from discovering niche or rare items.
Whatnot supports sellers by providing integrated tools for managing payments, shipping, and inventory, allowing them to focus more on presenting their items and building relationships rather than on logistics. For example, when a seller hosts a livestream, Whatnot handles the checkout flow and has mechanisms in place to verify high-value items, thereby reducing fraud and increasing buyer confidence. Additionally, the platform utilizes features such as scheduled livestreams and rewards programs to assist sellers in building loyal followings.
Whatnot has experienced rapid growth as live shopping has gained traction. And the platform has become one of the largest livestream shopping platforms in the U.S. And Whatnot is investing in expanding to new geographies, scaling seller tools, and expanding its category breadth, in order to become a broader destination for live social commerce.
KEY QUOTES:
“This moment reflects the incredible work of our team, the trust of our community, and the energy that sellers bring to Whatnot every day.”
“We started with a simple idea: shopping should be more personal, more connected, and more human. That vision has now powered more than $6 billion in live sales this year alone, and we’re just getting started.”
Statement from Whatnot
