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Whatnot hits $20B valuation as live shopping takes off
The live-shopping platform Whatnot has raised $545 million in a new funding round that values the startup at $20 billion. The app, which launched in 2019 as a hub for collectibles and later designer fashion, "supercharges" the typical online shopping experience through dynamic live shows guided by charismatic sellers. The Wall Street Journal reports that some users have become so "addicted" to its social-media-like scrolling and "high-pressure" auctions that they wipe out their savings. Retail stalwart eBay is also capitalizing on the live-shopping boom.
Live-shopping platform Whatnot has raised $545 million in a new funding round, pushing the company's valuation to approximately $20 billion. The massive investment highlights the growing popularity of live-commerce platforms, where shopping is combined with...
