Founders: Grant LaFontaine (CEO), Logan Head
Launched: 2019
Headquarters: Los Angeles
Funding: $968 million
Valuation: $11.5 billion
Key Technologies: N/A
Industry: E-commerce
Previous appearances on Disruptor 50 list: 0
In the rapidly expanding live commerce market, Whatnot has emerged as a leading platform rather than just another retailer. The company says it commands around 60% of the $22 billion market, captivating its viewers for as many as 95 minutes a day.
In October 2025, the company raised a $225 million Series F round led by DST Global and CapitalG, more than doubling its valuation to approximately $11.5 billion from January 2025, when it had raised $265 million in a Series E round. This placed Whatnot among the most valuable private companies in the commerce tech space, and one that didn't fall under the AI umbrella.
"The truth is, at the end of the day, if you are creating a really great business, consumers love it, and you have a strong underlying business model, you're able to go and raise capital," Whatnot CEO Grant LaFontaine told CNBC. "It's not just AI companies that can build really strong businesses. Nothing's changed."
Last year, Whatnot's gross merchandise value surpassed $8 billion, more than doubling its 2024 performance. More than 20 million new accounts were created, while first-time buyers surged by 285%. International expansion further amplified growth, with Australia launching in early 2025 and continued growth across Europe.
Whatnot sellers also expanded their categories, with beauty sales increasing 791%, followed by electronics (up 444%) and jewelry (up 259%). One out of eight Whatnot sellers now pursue it as a full-time job, with top sellers who do daily livestreams making $69,000 a month on average, per the company.
The company has deepened its relationships with brands, onboarding established retailers and consumer companies like Century 21, e.l.f. Beauty and Gen Korea BBQ House, all which helps to create a hybrid ecosystem that validates Whatnot's live commerce sales platform.
The company faces stiff competition from long-time e-commerce giants like eBay Live, as well as TikTok Shop Live and Fanatics Live. However, new tech, including a Shipment Scanner introduced in early 2026, has helped smooth out the sales process, confirming purchases in seconds and reducing support tickets by 60%. Whatnot also held its first Seller Summit in Austin on April 25, further expanding its presence as a sales platform among Americans.
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