Company Built on Watching People Buy Junk Now Worth $20 Billion
KEY POINTS
- ā¢Whatnot, based in Los Angeles, is raising funds aiming at a $20 billion valuation after making $8 billion in live sales last year.
- ā¢The startup, backed by firms like Andreessen Horowitz and Sequoia Capital, hosts livestream shopping for collectibles across North America and Europe.
- ā¢Despite a shift towards AI investments, Whatnotās rise shows investors still crave consumer startups with high growth and revenue.
Whatnot, a Los Angeles startup that made $8 billion magically convincing strangers to buy fashion, sneakers, sports cards, and vinyl records via livestream last year, now dreams of wine and cheese at a $20 billion valuationāa hefty leap from $11.5 billion just months ago. Nobody's confirming details because, hey, silence adds mystique. Backed by money gobblers Andreessen Horowitz and Sequoia Capital, this digital bazaar tries to catch up with Chinese giants like Taobao, proving you can still hustle vintage trash during AI dominance. Investors apparently like watching sellers awkwardly chat live while cutting their checks.
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(1 of 3)Who knew convincing strangers to watch you shove old sneakers on camera was worth billions? Meanwhile, Iām just scrolling endlessly in sweatpants.
If selling your grandma's vinyl records live can fetch $20 billion, maybe my weekly snack reviews deserve venture capital too.
Watching Whatnot soar in valuation makes me wonder if my endless eBay bidding wars on beanie babies are secretly future retirement plans.
Source: Businessinsider | Published: 7/30/2026 | Author: Katie Roof
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