💰 Big funding, big valuation
Whatnot, a livestream shopping app, announced a $265M Series E funding round, bringing its valuation to $4.97B. The round was co-led by Avra, DST Global, and Greycroft, with participation from Andreessen Horowitz, CapitalG, and others. To date, Whatnot has raised $746M. The funding underscores investor confidence in livestream shopping’s growth, especially in niche collectibles, a key focus for Whatnot. The platform also reported an annual GMV exceeding $3B, up from $2B last year, showcasing rapid growth in the sector.
🌎 Expanding horizons
Whatnot plans to use the new funds to expand globally and diversify offerings. The platform will launch in Australia next month and expand into European markets later this year. Currently, it operates in the U.S., U.K., Canada, and several European countries, including Germany and France. Beyond collectibles, Whatnot is adding categories like art, golf, and vinyl, aiming to attract a broader audience. Its focus on niche items differentiates it from competitors in fashion and beauty livestream shopping.
🛠️ Tools for sellers
The funds will also enhance Whatnot’s seller tools. A new inventory and order management system will streamline business for sellers. Other features like flash sales and rewards systems create urgency and engagement, boosting sales during livestreams. “We’re committed to helping sellers scale their businesses effectively,” said co-founder Grant LaFontaine. These innovations aim to retain sellers and drive growth in the competitive livestream shopping industry.
📈 First-ever share buyback
In addition to raising funds, Whatnot plans a $72M tender offer to buy back shares, signaling confidence in its financial health. This move supports its 600 employees through potential investment in salaries, benefits, and other perks. Share buybacks often reflect strong company performance, aligning with Whatnot’s growth trajectory. Investors see the platform as a key player in the $3B U.S. livestream shopping market, which is expected to grow as more consumers embrace this shopping method.
Can Whatnot's focus on collectibles sustain its growth?
