Live shopping platform Whatnot announced $265 million in Series E funding Wednesday, bringing the company’s valuation to $4.97 billion.
Whatnot, which was founded in 2019 and is among the leaders in domestic livestream selling with more than $3 billion in gross merchandise volume reported in 2024, has raised a total of $746 million in venture funding.
The Series E round was co-led by new investors Greycroft and Ava, as well as returning investors DST Global, Andreessen Horowitz, CapitalG (Alphabet’s independent growth fund), BOND and Y Combinator. Lightspeed Venture Partners and Durable Capital Partners also made their first investment into the company.
Whatnot doubled the number of new sellers and first-time buyers on its platform in the past year, with its sales volume increasing by more than double in 2024.
“We believe there’s a better way to shop online, and it starts with creating a platform where sellers can grow thriving businesses around the things they care about most. We’ve proven this leads to the happiest experience for consumers and sellers alike,” Grant LaFontaine, co-founder and CEO of Whatnot, said in a statement.
“As we look ahead, we’ll offer even more ways for sellers to cultivate their communities and for buyers to shop and socialize. This capital will help us pave the way for mainstream adoption of livestream selling."
The company says it will use the funding for strategic investments in customer experience, with a focus on seller tools, market expansion and trust and safety.
Whatnot also plans to initiate its first tender offer to buy back up to $72 million of shares.
Will Stern is a reporter and editor for cllct.