Livestream’s buyout program Whatnot raises $265M, putting it at a valuation of nearly $5B

NoThe platform that allows users to sell products such as trading cards, movies, and sneakers through live videos, announced on Wednesday that it has raised $265 million in a Series E funding round, the largest investment in the business. This round puts the value of Whatnot at $4.97 billion.

This investment is very important for Whatnot and it shows the possibility of any kind of purchase in the US. The amount of money raised shows the confidence of investors that Whatnot can improve the space, especially in collections and niche products, which is the area that Whatnot is looking for.

The new headquarters will be dedicated to expanding into many sectors, including art, golf, and vinyl. Whatnot is also working on new sales tools designed to help retailers grow their businesses. One of these tools aims to simplify the management of products and orders for suppliers.

Whatnot also plans to launch in Australia next month and other markets in Europe later this year. Available in the US, UK, Canada, France, Germany, Austria, The Netherlands, and Belgium.

Founded by Grant LaFontaine and Logan Head in 2019, the Whatnot platform today was created for collectors, distinguishing themselves from competitors who focus more on fashion and beauty. Originally selling trading cards, exhibits, comic books, and memorabilia, it has expanded over time to include accessories, clothing, electronics, live plants, and more.

A key feature of the platform is its “sudden death” auction, where the last bidder wins the item. Recently, Whatnot introduced a new sales method called flash sales, which allows sellers to offer customized, long-term discounts on products. On a more immediate note, the countdown clock makes consumers happy. Last year, the platform launched a new rewards tool that allows consumers to redeem rewards from sellers after completing successful promotions and upgrades.

Along with the financial announcement, Whatnot said it plans to launch its first option to repurchase $72 million in shares. The company told us that the move shows its commitment to investing in its 600 full-time employees. Share purchases often indicate that a company is doing well and can sell its employees, whether it’s for wages, benefits, or other expenses.

The round was led by Avra, DST Global, and Greycroft, and Andreessen Horowitz (a16z), CapitalG, BOND, Durable Capital Partners, and Y Combinator. To date, Whatnot has raised approximately $746 million.

Whatnot also revealed that its annual gross value (GMV) of recent sales exceeded $3 billion recently. to announce Annual GMV in excess of $2 billion.