Total amount raised
$749.7 Millions
Latest funding date
Location
Whatnot has successfully raised $746 million over multiple funding rounds, achieving a valuation of approximately $4.97 billion. The platform is a livestream shopping experience, allowing users to buy, sell, and discover a variety of products.
Keep reading to explore the intricacies of Whatnot's fundraising journey and the investors backing this innovative platform.
What Is Whatnot?
Whatnot, founded in December 2019 by Logan Head, is a livestream shopping platform based in San Francisco, California. The platform allows users to buy, sell, and discover a variety of products, including fashion, beauty, electronics, and collectibles.
Combining community engagement with entertainment, Whatnot fosters a unique shopping experience. The company has grown rapidly, employing between 501 and 1000 people.
For more details, you can visit their Crunchbase profile or their official website.
How Much Funding Has Whatnot Raised?
Pre-Seed Round
- Amount Raised: $150K
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop the initial product.
Pre-Seed Round
- Amount Raised: $550K
- Date: February 2020
- Lead Investors: Wonder Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
Seed Round
- Amount Raised: $4M
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase user acquisition.
Series A
- Amount Raised: $20M
- Date: March 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and expand market reach.
Series B
- Amount Raised: $50M
- Date: May 2021
- Lead Investors: Y Combinator Continuity Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enter new markets.
Series C
- Amount Raised: $150M
- Date: September 2021
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and improve user experience.
Series D
- Amount Raised: $260M
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: $3.7 billion
- Motivation Behind the Round: To fuel growth and expand into new categories.
Series E
- Amount Raised: $265M
- Date: January 2025
- Lead Investors: Avra, DST Global, Greycroft
- Valuation at Round: $4.97 billion
- Motivation Behind the Round: To support expansion into new territories and develop new seller tools.
Whatnot has raised a total of $746 million to date, with a current valuation of $4.97 billion.
Key Investors
- Greycroft
- Details: Greycroft is a venture capital firm that invests in early and growth-stage technology companies. They have a strong track record of backing innovative startups.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Venmo, The RealReal, Scopely.
- DST Global
- Details: DST Global is a venture capital and private equity firm that focuses on late-stage internet companies. They are known for their significant investments in high-growth tech firms.
- Investment Focus Areas: Internet, technology, social media.
- Notable Investments: Facebook, Twitter, Alibaba.
- Avra
- Details: Avra is a venture capital firm that invests in innovative technology companies. They focus on early-stage investments and have a keen interest in disruptive technologies.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm that invests in both early-stage startups and established growth companies. They are renowned for their extensive portfolio in the tech industry.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Facebook, Airbnb, Lyft.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise and consumer sectors. They have a history of backing successful startups.
- Investment Focus Areas: Enterprise, consumer, health.
- Notable Investments: Snapchat, Nest, GrubHub.
What's Next for Whatnot?
Whatnot's future is brimming with opportunities, driven by its recent $265 million Series E funding. The company plans to expand into new categories like art, golf, and vinyl, and enter markets in Australia and Europe. Leveraging AI and proprietary data, Whatnot aims to enhance personalization and customer support, positioning itself as a leader in the live shopping industry.
With a valuation nearing $5 billion and annual gross merchandise value surpassing $3 billion, Whatnot is well-poised for future fundraising. The platform's growth trajectory suggests it could attract further investment rounds, potentially leading to strategic acquisitions to bolster its technological capabilities and market reach.
However, challenges loom. Maintaining trust and safety in a rapidly growing digital marketplace, ensuring high levels of customer support, and competing with other e-commerce platforms are significant hurdles. Navigating these challenges will be crucial for Whatnot as it scales and continues to innovate in the live shopping space.
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