Whatnot raises another $150M for its livestream shopping platform, evolves into a unicorn

Whatnot, a live streaming shopping platform for collectors to buy and sell things like rare Pokemon cards and Funko Pops, has closed a $150M Series C — its third round of fundraising in 2021 alone. This round pins Whatnot’s valuation at $1.5B, earning it a spot on the ever-growing list of unicorns.
So what’s a Whatnot? The app captures a trend that had been growing popular on platforms like Instagram in the US (and was already hugely popular in China): live shopping. Verified sellers can go on the air at any time, hosting on-the-fly video auctions for their goods. Sometimes buyers know exactly what they’re getting. Other times it’s more of a mystery bag; with the popular “card break” concept, for example, users buy assigned portions of an unopened (and often itself rare) box of Pokemon or sports cards and watch its contents revealed live.
This round was funded by return investors A16Z and Y Combinator’s Continuity fund, along with one new firm joining them: CapitalG. They’ve also added a few well-known names to their list of angel investors, including Andre Iguodala of the Golden State Warriors, Zion Williamson of the New Orleans Pelicans, and Logan Paul of the YouTubes. Initial word of this round broke last week, via TheInformation.
Whatnot originally started out as a more standard (less live) resale platform, at first focused on authenticating just one kind of collectable: Funko Pops. As the pandemic took over and everyone was suddenly stuck at home, they leaned hard into live shopping — and grew rapidly as a result.

Whatnot wants to be the GOAT of collectible toys, starting with Funko Pops
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Август 2022    »