Whatnot

Whatnot
Industrye-commerce
Founded2019
FounderGrant LaFontaine (CEO), Logan Head
Headquarters
Los Angeles, California
,
US
Number of employees
~800[1]
Websitewww.whatnot.com

Whatnot is a digital marketplace and live-stream shopping platform where users can buy and sell items in online video auctions.[2][3][4] The company was incorporated in Delaware but is based in Marina Del Rey, California.[5][6] Whatnot's slogan is "Shop, Sell, Connect".[7]

History

Whatnot was founded in 2019 by Grant LaFontaine and Logan Head.[8] Before expanding to host a more diverse range of products, the platform started as a marketplace for Funko Pop figurines.[9]

In 2020, Whatnot began hosting live shows in which sellers would promote products and field questions from potential customers. This soon became an important part of the company's business model.[10]

In 2024, Whatnot launched a rewards program in which sellers could create rewards for buyers to earn, such as coupons, free shipping, and access to exclusive shows and merchandise.[4] That same year, sellers using Whatnot sold $3 billion worth of goods via live sales, mainly in collectible categories like trading cards and sports cards.[10] Whatnot received $265 million in a Series E funding round that valued the company at $4.97 billion.[11]

A Series F funding round conducted in October 2025 raised another $225 million and valued the company at $11.5 billion.[9][12] This funding round was co-led by DST Global and CapitalG and included investments from Greycroft, Andreessen Horowitz, and Sequoia Capital.[12] In June 2025, Whatnot ranked inside the top 15 most popular free iPhone apps in the United States, and No. 1 in the shopping category overall.[10] That year, the platform added spending limits,[7] had more than $8 billion in sales,[13] and held nearly 60% market share of live commerce across North America and Europe.[14] The company reported that over 20 million new accounts were created in 2025 and that "Sports" and "TCG cards" were the top two best-selling categories in the U.S. that year.[15]

In February 2026, following changes at the United States Postal Service (USPS) that risked delaying package acceptance scans, Whatnot introduced new in-app scanning tools.[16]

In March 2026, Whatnot had 15 arbitration claims filed against it, in which customers accused the company of conducting an unlawful gambling scheme, violating the Racketeer Influenced and Corrupt Organizations (RICO) Act by allowing sellers to hold randomized box and repack breaks on its platform.[5][17] In a statement to The Athletic, Whatnot rejected the characterization of these complaints, stating that gambling was not allowed on its platform and "while sellers who 'break' only make up 4% of sellers on our platform, we've taken care to bring that experience online in a way that holds everyone accountable."[5][7] Also in March, it was announced that Whatnot had integrated with Shopify, which allows users to automatically synch their inventories and orders across platforms.[18][19]

Whatnot had begun selling shelf-stable food items, like candy and snacks, in the summer of 2025. By April 2026, it introduced a "fresh food" category, which included foods like fish and steak. Between July 2025 and January 2026, Whatnot’s food category had increased 30% month-over-month.[20]

In April 2026, Whatnot was included on the TIME100 Most Influential Companies of 2026 list.[21]

Operations

Whatnot functions as a remote-first company with co-located hubs in the U.S., the United Kingdom, Ireland, Poland, and Germany. The platform uses live-streamed auctions.[22][23][24] Whatnot generates revenue through fees charged to sellers and collaborations with influencers and brands to promote products on the platform.[25][26]

References

  1. ^ Morgan, Rick (August 11, 2025). "LA startup Whatnot ramps up headcount at Seattle office". Puget Sound Business Journal. Retrieved November 4, 2025.
  2. ^ Taylor, Isaac (2025-01-08). "New Growth Investment Pushes Whatnot to $5 Billion Valuation". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-01-23.
  3. ^ Schlossberg, Dan. "Fueled By Baseball Card Boom, Whatnot Hits Financial Home Run". Forbes. Retrieved 2025-01-23.
  4. ^ a b Forristal, Lauren (2024-10-02). "Livestream shopping app Whatnot adds a rewards program as GMV tops $2B". TechCrunch. Retrieved 2025-01-23.
  5. ^ a b c Holder, Larry (2026-03-16). "Customers accuse Whatnot of illegal gambling operation over sports card breaks, repacks". The New York Times. ISSN 0362-4331. Retrieved 2026-04-05.
  6. ^ Nusbaum, David (November 12, 2025). "Online Sales Platform Whatnot Raises $225 Million Series F Round". Los Angeles Times. Retrieved November 20, 2025.
  7. ^ a b c "Whatnot Faces Legal Challenges Over Breaking Practices". Collectibles On SI. 2026-03-16. Retrieved 2026-04-05.
  8. ^ Shoaib, Maliha (January 30, 2025). "Can Whatnot bring live shopping to the West?". Vogue Business. Retrieved November 11, 2025.
  9. ^ a b de la Merced, Michael J. (October 28, 2025). "Whatnot Raises $225 Million as Investors Bet on Livestream Shopping". New York Times. Retrieved November 11, 2025.
  10. ^ a b c Del Rey, Jason (June 16, 2025). "Inside the rise of Whatnot, the wildly-entertaining, FOMO-inducing, $5 billion shopping app you've never heard of". Fortune. Retrieved November 11, 2025.
  11. ^ Forristal, Lauren (January 8, 2025). "Livestream shopping app Whatnot raises $265M, pinning valuation at nearly $5B". TechCrunch. Retrieved November 11, 2025.
  12. ^ a b Nusbaum, David (November 12, 2025). "Online Sales Platform Whatnot Raises $225 Million Series F Round". Los Angeles Times. Retrieved November 20, 2025.
  13. ^ Mates, Seth (2026-03-16). "Lawsuit Accuses Breaking Platform Whatnot Of Being 'Unregulated Online Casino' For Sports Cards (Report)". College Baseball, MLB Draft, Prospects - Baseball America. Retrieved 2026-04-05.
  14. ^ Roberts-Islam, Moin (2026-01-28). "Whatnot And Live Shopping: Fashion's Product Page Becomes A Person". Forbes. Retrieved 2026-05-05.
  15. ^ Burrows, Ben (2026-01-28). "Whatnot doubled sales to more than $8 billion in 2025". Yahoo! Sports. Retrieved 2026-04-05.
  16. ^ Morton, Liz (2026-02-22). "Whatnot Announces First-Ever Seller Conference as It Enhances Shipping Safeguards". Value Added Resource. Retrieved 2026-05-05.
  17. ^ Bates, Greg (2026-03-18). "Whatnot lawsuit could mean big trouble for breakers, help protect collectors". Sports Collectors Digest. Retrieved 2026-04-05.
  18. ^ Morton, Liz (2026-05-02). "Whatnot Integrates With Shopify In Bid To Woo Bigger Brands To Live Selling". Value Added Resource. Retrieved 2026-05-05.
  19. ^ Smith, Allison (2026-04-29). "Live-shopping platform Whatnot taps Shopify to reach millions of merchants as it chases growth". Modern Retail. Retrieved 2026-05-05.
  20. ^ Waldow, Julia (2026-03-03). "From lollipops to lobsters, Whatnot pushes further into selling food via livestream shopping". Modern Retail. Retrieved 2026-05-05.
  21. ^ Rasmus, Grace (2026-04-30). "Whatnot". TIME. Retrieved 2026-05-05.
  22. ^ Forristal, Lauren (2025-01-08). "Livestream shopping app Whatnot raises $265M, pinning valuation at nearly $5B". TechCrunch. Retrieved 2025-01-23.
  23. ^ Arjan (2025-01-09). "Whatnot eyes further European expansion". Ecommerce News. Retrieved 2025-01-23.
  24. ^ Rekman, Lee (2025-01-16). "Exploring Whatnot: The Future of Live Auction eCommerce". Lethal Digital. Retrieved 2025-01-24.
  25. ^ "TikTok Shop Rival Whatnot Raises Funds at $5 Billion Valuation". The Business of Fashion. 2025-01-08. Retrieved 2025-01-23.
  26. ^ "Marvel and Whatnot Unveil Exclusive Comic Trading Packs for NYCC". www.marvel.com. Retrieved 2025-01-23.

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