With “the largest raise in live shopping,” Whatnot achieves $20 billion valuation

In 2025, Whatnot raised two funding rounds, each of which brought in more than $200 million of fresh capital. Now, the live shopping platform is showing that its big year was not a fluke. It has announced a $545 million Series G round that values the company at $20 billion.

ICONIQ, Lightspeed, and Avra led the round. Previous Whatnot investors who participated in the Series G include Andreessen Horowitz, Greycroft, and Y Combinator. In a blog post, Whatnot called its new round “the largest raise in live shopping.”

Whatnot will apply its fresh capital across multiple areas. It will seek continued user growth and international expansion while also increasing its investment in AI — a sector that is rolling up a big bill across major tech companies. “This investment allows us to build better tools, bring AI to more parts of the selling experience, help sellers reach more buyers, expand into new markets, and continue building the world’s biggest and most trusted marketplace,” said Whatnot CEO and Co-Founder Grant LaFontaine in a statement.

Since its founding in 2019, Whatnot has experienced a meteoric rise that has put the ecommerce industry on notice. Early experiments in live shopping have produced a sprawling sales environment that generated $8 billion of gross merchandise value (GMV) from live sales in 2025.

The new year has brought more good news to Whatnot HQ. In its announcement post, the company said that it attracts 650,000 new users each week. “Over the past year, the number of sellers who have passed $1 million in lifetime sales has more than doubled, and the share earning a full-time living on the platform has grown by 25 percent,” reads the post.

By reaching a $20 billion valuation, Whatnot nearly doubled the $11.5 billion figure that was attached to its previous funding round. It would seem that the sky is the limit for this live shopping unicorn. As is the case with its community of live sellers, business is booming.