Topics
Latest
AI
Amazon
Image Credits:Whatnot
Apps
Biotech & Health
Climate
Image Credits:Whatnot
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
concealment
Robotics
Security
Social
place
Startups
TikTok
Transportation
Venture
More from TechCrunch
consequence
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
adjoin Us
Whatnot , the chopine that reserve user to sell items such as trading cards , comics , and sneakers through live video , annunciate on Wednesday that it has secured $ 265 million in a Series E funding round , a significant investiture for a livestream shopping chopine . This round puts Whatnot ’s valuation at $ 4.97 billion .
The investing marks an important milepost for Whatnot and highlights the potential for livestream denounce to rise in the U.S. The considerable amount raised reflects investor ’ belief that Whatnot can innovate further in the space , peculiarly in collectable and corner item , which is Whatnot ’s focus area .
The new capital will be allocated to expanding into more categories , including art , golf , and vinyl group . Whatnot is also put to work on fresh seller tools designed to assist sellers in growing their businesses . One of these peter calculate to simplify the management of inventory and orders for sellers .
Whatnot also plan to establish in Australia next month as well as other market place in Europe after this year . It ’s presently uncommitted in the U.S. , the U.K. , Canada , France , Germany , Austria , The Netherlands , and Belgium .
Founded by Grant LaFontaine and Logan Head in 2019 , Whatnot ’s weapons platform is today designed for collectors , differentiating itself from competitors focalize on mode and dish products . Initially centered on sport trading cards , action figures , comic books , and memorabilia , it has dilate over metre to admit add-on , clothing , electronics , live plants , and more .
A key characteristic of the platform is its “ sudden expiry ” auction bridge , where the last bidder wins the item . of late , Whatnot introduced a new selling method acting call newsbreak sales , which allows vendor to proffer customizable , time - sensitive discount on products . During livestreams , a countdown clock produce a sense of urgency among buyers . Last year , the platform launched a new rewards prick that allows buyers to redeem rewards from sellers after completing certain accomplishment and leveling up .
Alongside the financial backing announcement , Whatnot said it be after to set up its first - ever tender offer to buy back up to $ 72 million Charles Frederick Worth of share . The company told us that this move reflects its committal to endue in its 600 full - metre employee . plowshare buybacks often evoke that a company is perform well and can afford to clothe in its workforce , whether through salaries , benefits , or other investment .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
The round was co - conduce by Avra , DST Global , and Greycroft , with participation from Andreessen Horowitz ( a16z ) , CapitalG , BOND , Durable Capital Partners , and Y Combinator . To date , Whatnot has produce approximately $ 746 million .
Whatnot also revealed that its annual gross merchandise economic value ( GMV ) for livestream cut-rate sale surpass $ 3 billion after recentlyreportingan annual GMV of over $ 2 billion .
