Whatnot, a livestream shopping platform competing with TikTok Shop, is preparing for further European expansion. The U.S.-based company announced this move following a fresh capital injection. The video platform is also aiming to expand into new categories.
Founded in 2019, Whatnot raised 257.2 million euros (265 million dollars) in a new funding round, valuing the company at nearly 4.8 billion euros (5 billion dollars).
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Thousands of sellers
In 2024, goods worth over 3 billion dollars were sold on Whatnot, including sneakers, handbags, and vinyl records. According to the live video shopping company, it collaborates with thousands of sellers across eight countries, including the U.S., Canada, Germany, and France. Each week, more than 175,000 hours of livestreams are hosted on the platform.
New features
In a blog post, Whatnot stated it would use the growth capital to launch new features for sellers “to help you grow your business”. The company plans to simplify inventory and order management, enhance streaming capabilities, and provide insights to guide decision-making.
New markets
Additionally, Whatsnot promises merchants it will enter new markets and actively recruit new buyers. “Shoppers, collectors, and enthusiasts worldwide are waiting to discover what you have to offer. As we strengthen our presence across North America and Europe and introduce our platform to new regions, we will also be investing in marketing initiatives to attract new buyers”, the company stated.
‘We will be investing to attract new buyers.’
Whatnot also plans to introduce new product categories, including golf and art, according to co-founder and CEO Grant LaFontaine.
LaFontaine believes Whatnot represents the future of retail. “The opportunity for what live and social commerce can do for sellers and sellers’ businesses is pretty tremendous”, he remarked. “It is going to be one of those things that changes every kind of category and part of retail.”
TikTok Shop
Whatnot draws comparisons to the larger TikTok Shop, which reportedly generated approximately 30 billion dollars in GMV last year. With its recent launches in Spain and Ireland, TikTok Shop has entered continental Europe. The platform is expected to expand to other European markets this year, with Germany—where live shopping is known but still little loved—France, and Italy frequently mentioned as likely candidates.
