The investment brings Whatnot’s valuation to $4.97 billion. The company has raised approximately $746 million since its founding in 2019.
Whatnot, a marketplace focused on live shopping in the US, UK, and Europe, has announced $265 million in Series E funding, co-led by Greycroft, DST Global, and Avra. Joining Greycroft and Avra as new investors are Lightspeed Venture Partners and Durable Capital Partners, who participated in the round alongside returning backers Andreessen Horowitz (a16z), CapitalG, BOND, and Y Combinator.
The investment brings Whatnot’s valuation to $4.97 billion. The company has raised approximately $746 million since its founding in 2019.
“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,” said Grant LaFontaine, Co-founder and CEO at Whatnot.
“As we look ahead, we’ll offer even more ways for sellers to cultivate their communities and for buyers to shop and socialise. This capital will help us pave the way for mainstream adoption of livestream selling, and we’re grateful to welcome many new partners to the Whatnot family who share our vision that the future of shopping is live.”
Along with the funding, plans are afoot to launch its first ever tender offer to buy back up to $72 million worth of shares.
“Whatnot has tapped into a powerful shift in the way people shop – live, video, social, and mobile first. The company has built a multi-category platform that can address all of retail, approximately $7 trillion in the United States alone,” said Marcie Vu, Whatnot Board Observer and Partner at Greycroft. “We’re proud to support its exceptional team as they seek to impact many more consumers and sellers globally.”
“We’ve partnered with Whatnot since its early days, and it continues to be one of the fastest growing marketplaces we’ve ever seen. Its consistent innovation and commitment to exceptional buyer and seller experiences has enabled it to become a truly remarkable company,” said Laela Sturdy, Whatnot Board Member and Managing Partner at Alphabet independent growth fund CapitalG.
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