News Summary

Whatnot, a Los Angeles-based livestream shopping platform, has successfully raised $265 million in its Series E funding round, elevating the company’s valuation to approximately $4.97 billion. This significant investment was co-led by Avra, DST Global, and Greycroft, with participation from Andreessen Horowitz (a16z), CapitalG, BOND, Durable Capital Partners, and Y Combinator. The funding will enable Whatnot to expand into additional categories such as art, golf, and vinyl, and will support the launch of new seller tools to aid business growth. The company is also planning to expand its market presence to Australia and other European regions later this year. Founded in 2019 by Grant LaFontaine and Logan Head, Whatnot specializes in selling collectibles and niche items via live video streams. The platform’s unique features, including “sudden death” auctions and flash sales, create urgency among buyers. The company also plans a $72 million share buyback, demonstrating its commitment to investing in its workforce. To date, Whatnot has raised approximately $746 million, with its gross merchandise value for livestream sales surpassing $3 billion annually.