Live-shopping platform Whatnot seeks new funding at roughly $20 billion valuation
Whatnot is negotiating a financing round that could value the live-shopping startup at about $20 billion, up from $11.5 billion last year.
Whatnot, a live-shopping platform that enables users to buy items ranging from apparel to collectibles via streamed video, is reportedly pursuing a new financing round that could place its valuation near $20 billion, a jump from the $11.5 billion level at which it last raised money. The company, headquartered in Los Angeles, generates revenue by taking a cut of each sale made on its service, which operates in North America and Europe.
In the prior year, Whatnot facilitated $8 billion in live-sale transactions, reflecting rapid growth in its user base and revenue. Investors in the upcoming round may include existing backers Andreessen Horowitz, Capital G, Sequoia Capital and Lightspeed Venture Partners. The fundraising effort underscores continued investor interest in consumer-focused startups despite a broader venture-capital shift toward AI-related infrastructure. Whatnot draws inspiration from Asian live-shopping giants such as Taobao and benefits from the rising acceptance of social-media commerce in Western markets.
Why it matters
The deal shows venture capital still backs fast-growing consumer platforms amid an AI-focused funding climate.
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