Whatnot, a Los Angeles-based collectibles startup, closed a $ 150 million Series C round to expand its live-shopping platform in the United States:
Some of the companies that participated in the round include Andreessen Horowitz, YC Continuity and new investor CapitalG, along with several angel investors like Andre Iguodala, Logan Paul, Gokul Rajaram and Nilam Ganenthiran. This funding round brings the total funding raised by the startup since 2019 to $ 225 million. Laela Sturdy, General Partner at CapitalG, spoke of the potential the company saw in the startup, saying:
âWhatnot cracked the code to make online shopping engaging and fun with their community approach to live shopping. Whatnot’s merger of entertainment and commerce has created an incredible driver of growth that is accelerating growth on both sides of their market. Buyers spend hours each week participating in the app’s content and community, while sellers get stronger monetization than available on other channels. Whatnot has already proven itself in several categories, and we are delighted to partner with Grant, Logan and the team on their journey, â
Whatnot was founded in 2019 by Grant Lafontaine and Logan Head as a platform that would allow users to acquire collectibles and other assets while watching and interacting with the seller via a live broadcast, a similar format to traditional auctions but on a more personal level. Since then, the platform has grown into one of the biggest live shopping platforms, offering all kinds of collectibles. Grant Lafontaine spoke of the recent success of the platform, saying:
âThe race to ‘win’ direct shopping in the United States has intensified over the past few years and with the investments we have made in our platform, our sellers and our audience, we are poised to take the lead. relay. n Partnering with our existing investors and CapitalG, we have the capital to continue to grow and hire at the rate we need to maintain our position as the largest live streaming platform in the United States.
With live streaming platforms such as Twitch integrating live streaming into pop culture, the unique collectibles approach developed by Whatnot has become increasingly popular among internet users. The platform developed by the collectibles startup not only brings live feedback to sellers and buyers in real time, but also enhances the collectibles shopping experience by building a community around it. .