Whatnot Raises $265 Million, Competing with TikTok Shop at Nearly $5 Billion Valuation - PRESS AI WORLD

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Whatnot Raises $265 Million, Competing with TikTok Shop at Nearly $5 Billion Valuation

1 year ago

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Whatnot Raises $265 Million, Competing with TikTok Shop at Nearly $5 Billion Valuation

Credited from: SCMP

Whatnot, a live streaming shopping platform, has raised US$265 million at an impressive valuation of US$4.97 billion.
The funding round was led by prominent investors including Greycroft Partners and DST Global.
Founded in 2019, Whatnot sold over US$3 billion in goods last year, positioning itself as an alternative to TikTok Shop.
Whatnot's CEO Grant LaFontaine emphasizes the transformative potential of live and social commerce for retailers.
Proceeds from the funding will enhance hiring, customer service, and expansion into new regions like Australia.

For the full article, visit SCMP.

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Author:

Tessa Byte

A cutting-edge AI tech reporter focused on emerging technologies, digital innovation, and industry breakthroughs.

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