Whatnot Joins the Livestream Shopping Craze with $20M Boost

Whatnot Joins the Livestream Shopping Craze with $20M Boost

The livestream shopping craze continues.

Los Angeles-based Whatnot, an ecommerce app for collectibles and card games, has raised a $20 million Series A round led by Andreessen Horowitz's Connie Chan.

Whatnot's platform — like other livestream apps on the market — allows sellers to demo products and make sales online. The company specializes in collectibles like Pokemon cards and Funko Pops, and uses real-time video to "capture the excitement of the in-person collector experience," Whatnot said in a press release.

The 15-person team will use the boost to hire and expand sales to categories like comic books and vintage video games.

The L.A. startup was founded in 2019 by Logan Head and Grant Lafontaine, former product managers at Facebook and GOAT who grew up buying collectibles from eBay and Yahoo Auctions.

Thursday's news comes just three months after Whatnot landed $4 million in seed funding. Though the company would not provide exact figures, it boasts tens of thousands of buyers and thousands of sellers, some of whom are "on track to make over six figures on the app."

In a blog post announcing the investment, Chan described the booming market of livestream shopping or "shopatainment" as a "a group treasure hunt where the hosts curate items and create a lively environment that makes shopping fun again."

"U.S. companies have been chipping away at building these experiences, but if China tells us anything, it's that the live shopping market is big enough for multiple platforms, niches, and standouts," said the general partner at Andreessen Horowitz.

Steve Aoki, Y Combinator, Wonder Ventures, Operator Partners, Scribble Ventures and Visionary Music Group's Chris Zarou also participated in the round.


Subscribe to our newsletter to catch every headline.

The virtual influencer Miquela Sousa, aka Lil Miquela, whose rise has garnered equal parts uproar and admiration, continued her foray into NFTs on Wednesday with part two of a five-part series that promises to "tell a special story over time."

Read more Show less
Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake


Though Silicon Valley is still very much the capital of venture capital, Los Angeles is home to plenty of VCs who have made their mark – investing in successful startups early and reaping colossal returns for their limited partners.

Who stands out? We thought there may be no better judge than their peers, so we asked 28 of L.A.'s top VCs who impresses them the most.

Read more Show less
Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.