A Live Streaming E-Commerce Platform Named Whatnot Raised $20 Million
Daniel Johnson — March 10, 2021 — Business
References: prnewswire & retaildive
Whatnot, a live streaming e-commerce platform raised $20 million in Series A funding.
The live streaming e-commerce platform indicated that it will use the funding to take on more staff and expand the service into new categories. Some of the new categories will include comic books and vintage gaming equipment. The platform has thousands of sellers and tens of thousands of buyers. Whatnot currently operates as a live platform to buy and sell collectibles cards, including sports cards, and Pokémon cards.
"Inspired by our own experiences buying and selling collectibles online, Whatnot creates a space that turns online shopping into entertainment, helps people connect live over the things they love and is purpose-built to make it easy to foster both community and commerce," said Logan Head Whatnot's co-founder.
Image Credit: Whatnot
The live streaming e-commerce platform indicated that it will use the funding to take on more staff and expand the service into new categories. Some of the new categories will include comic books and vintage gaming equipment. The platform has thousands of sellers and tens of thousands of buyers. Whatnot currently operates as a live platform to buy and sell collectibles cards, including sports cards, and Pokémon cards.
"Inspired by our own experiences buying and selling collectibles online, Whatnot creates a space that turns online shopping into entertainment, helps people connect live over the things they love and is purpose-built to make it easy to foster both community and commerce," said Logan Head Whatnot's co-founder.
Image Credit: Whatnot
Trend Themes
1. Live E-commerce Platforms - Whatnot's success in fundraising could inspire similar companies to create live e-commerce platforms that offer personalized and interactive shopping experiences.
2. Expansion Into Niche Categories - Whatnot's announcement of a move into niche categories like comic books and vintage gaming equipment highlights a potential opportunity for other e-commerce platforms to expand into niche categories.
3. Community-based Selling - Whatnot's focus on creating a space that fosters both community and commerce presents a disruptive innovation opportunity for e-commerce companies to build community-based selling platforms.
Industry Implications
1. E-commerce - Whatnot's success in fundraising signals potential growth and investment opportunities in the e-commerce industry.
2. Collectibles Market - Whatnot's current success selling collectibles cards highlights an opportunity for e-commerce companies to further explore the collectibles market.
3. Gaming Industry - Whatnot's announcement of a move into vintage gaming equipment indicates potential growth and investment opportunities in the gaming industry.
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