Whatnot, a Marina Del Rey-based shopping platform and online marketplace, raised $225 million, which more than doubled its valuation to $11.5 billion in less than 10 months.
Whatnot, the platform that allows users to sell items such as trading cards, comics, and sneakers through live videos, announced on Wednesday that it has secured $265 million in a Series E funding round, a significant investment for a livestream shopping platform. This round puts Whatnot’s valuation at $4.97 billion.
Livestream shopping in the United States has a ways to go to catch up with China’s booming $600 billion industry, but Whatnot’s new $260 million Series D round shows that shoppers stateside are increasingly embracing this way of buying and selling items.