Whatnot, the live stream shopping platform and marketplace for collectors and enthusiasts, has announced that it has raised $150M in Series C from returning investors Andreessen Horowitz, YC Continuity, and new investor CapitalG. They join angel investors Andre Iguodala, Logan Paul, Gokul Rajaram, Nilam Ganenthiran and others in investing in the company, bringing the company’s total funding to $225M to date.
“The race to ‘win’ live stream shopping in the US has been heating up over the past few years and with the investments we’ve made in our platform, sellers and audience, we are ready to take over,” said Lafontaine. “In partnership with our existing investors and CapitalG, we are armed with the capital needed to continue to grow and hire at the pace we need to maintain our position as the largest live stream platform in the United States.”
“Whatnot has cracked the code on making online shopping engaging and fun through their community-first approach to livestream shopping. Whatnot’s fusion of entertainment and commerce has created an incredible growth flywheel that accelerates growth on both sides of their marketplace. Shoppers spend hours each week engaged in the app’s content and community, while sellers achieve stronger monetization than is available on other channels. Whatnot has already demonstrated success across multiple categories, and we are thrilled to partner with Grant, Logan and the team on their journey,” said Laela Sturdy, General Partner at CapitalG.
“I primarily built my audience through YouTube, showing off my thrift hauls and styling my fans, and this naturally led to opportunities to sell my favorite finds through platforms like DePop. However, I was finding the time and effort that goes into listing pieces online don’t necessarily translate when it comes to sales,” added Danielle “Twinelle” Rivera, a popular YouTube personality. “Since I’ve been going live on Whatnot, I’ve been making as much in an hour as I would make in a week on other platforms, and it’s a more fun and interactive experience for my community. I love chatting with them live while I show off and sell my favorite finds in real time. I’ve been telling all my friends – you have to get on Whatnot!”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.