Whatnot Achieves $11.5 Billion Valuation, Securing Decacorn Status

Livestream shopping platform Whatnot has officially reached decacorn status, following a recent funding round that propelled its valuation to $11.5 billion. The significant financial milestone was highlighted by investor Arnav Sahu, who enthusiastically stated in a social media post, "> Whatnot is a decacorn. What an incredible company!" This development underscores the rapid growth and investor confidence in the interactive commerce sector.

The company announced in October 2025 that it had successfully raised $225 million, which included up to $126 million in secondary offerings for existing shareholders, bringing its total funding to approximately $968 million. This latest valuation represents a substantial increase from its previous Series E funding round in January 2025, where Whatnot secured $265 million at a valuation of nearly $5 billion. Investors like Greycroft, DST Global, Andreessen Horowitz, and Durable Capital have participated across various funding rounds.

Founded in 2020 by Grant LaFontaine and Logan Head, Whatnot initially focused on collectibles such as trading cards, sneakers, and toys, evolving into a platform where sellers host live video auctions. The platform generates revenue primarily through an 8% commission on most sales, plus payment processing fees. Whatnot has demonstrated robust user engagement, with an estimated 102% year-over-year revenue growth in 2024, achieving $3 billion in Gross Merchandise Value (GMV).

Whatnot's success is attributed to its unique blend of entertainment and commerce, fostering strong buyer-seller relationships and high customer retention rates. The company has expanded its offerings beyond collectibles into categories like fashion, which has emerged as its fastest-growing segment. Despite increasing competition from platforms like TikTok Shop, Whatnot continues to drive its market position through strategic initiatives, including the introduction of advertising products and international expansion into markets such as Australia and Europe.