Live shopping specialist Whatnot bags $265 million in Series E funding with valuation hitting $4.97 billion

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,” says 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 socialiwe. 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 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,” says 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,” says Laela Sturdy, Whatnot board member and Managing Partner at Alphabet independent growth fund CapitalG.

2024 RTIH INNOVATION AWARDS

Startups were a key focus area at the sixth edition of the RTIH Innovation Awards.

The awards celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering.