Whatnot

Whatnot is the largest livestream shopping platform in the United States, founded in December 2019 in Los Angeles by Grant LaFontaine (CEO) and Logan Head (CTO), both collectors who envisioned "eBay meets Twitch." The platform revolutionizes e-commerce by combining live video auctions with social engagement, allowing sellers to host interactive shows where buyers bid in real-time, chat directly with sellers, and participate in giveaways and challenges. What began as a marketplace for collectibles like Funko Pops and sneakers has expanded to over 140 categories including sports cards, comics, fashion, electronics, jewelry, and even perishables.

Whatnot's explosive growth trajectory is remarkable: from a garage operation during COVID-19 (when the founders moved to Phoenix to save money after most investors rejected them) to achieving an $11.5 billion valuation in October 2025 through a $225 million Series F round. The platform reached $6 billion in GMV for 2025—more than double its 2024 total of $3 billion—with over 500 sellers achieving $1 million+ in annualized sales. Users spend an average of 80 minutes daily on the app, far exceeding typical e-commerce engagement, while the platform hosts more than 175,000 hours of livestreams weekly.

The company's success stems from solving a critical problem: while traditional e-commerce lacks the excitement and trust-building of in-person shopping, Whatnot's live format enables sellers to showcase products, answer questions in real-time, authenticate items on camera, and build genuine communities around shared passions. The platform charges sellers an 8% commission in the U.S. (6.67% in UK/EU) plus 2.9% + $0.30 payment processing fees, while offering both live auction and instant buy options. Two-thirds of sellers earn more than $10,000 per month, with one in four making over $300,000 annually.

Whatnot has rapidly expanded internationally, launching in the U.K., Canada, France, Germany, Netherlands, Belgium, Austria, and with planned expansion to Australia in February 2025. The platform's 62% month-over-month customer retention rate and ranking as the 15th most popular free iPhone app in the U.S. demonstrate strong product-market fit. Beyond just facilitating transactions, Whatnot has created a new form of entertainment-based shopping where the average shopper purchases 12 items weekly, sneaker enthusiasts spend $500 monthly, and the livestream format builds authentic seller-buyer relationships that drive loyalty and repeat purchases. With recent innovations like boosted livestreams for seller visibility, marketplace listings complementing live shows, and a rewards program, Whatnot continues to redefine the future of live commerce.