Connect with us

Hi, what are you looking for?

Online Business Success

Whatnot raises $50M to let people sell Pokémon cards, Funko Pops, and more via livestream – TechCrunch

Whatnot exists with one primary goal in mind: to give people a place to buy and sell collectibles (like Pokémon cards, sports cards, pins, etc) in a safe, authenticated way.

The company started out with intentions of being a GOAT/StockX-style resale marketplace, where the products up for sale lived on neat little pages with row after row of static images. As they started experimenting with other formats, they found one that really seemed to catch on: livestream sales. Think QVC or the Home Shopping Network… but instead of hosts in huge studios selling jewelry and patio furniture, it’s users with smartphones selling Charizard cards and Yoda figurines.

whatnot auction

Image Credits: Whatnot

I first wrote about Whatnot last year. In the short time since, the company has raised three increasingly large rounds: $4 million in December, $20 million in March, and, as of this morning, another $50 million.

While Whatnot still offers the more standard product pages to give sellers a 24/7 presence on the site, the livestreaming side of things has become the primary driver — by far. Co-founder Grant LaFontaine tells me that livestreaming is currently “95% of the focus”; it’s where most of their sales are happening, and what users seem to care most about.

Another thing users seem to care about? Sports cards. Whatnot opened up the site to sports card sellers in January, and it almost immediately took over as the site’s best selling category. The one category now accounts for “millions of dollars” in sales each month, the company says.

Advertisement. Scroll to continue reading.

The Whatnot team itself is growing quickly as well. When I first spoke to them, it was just a handful of employees; by January of this year, they were up to ten. Today it’s 45 fulltimers. By the end of the year, says Grant, they expect to be nearing one hundred.

While anyone can sell on Whatnot’s marketplace, only users that have been vetted/invited can sell via livestream. This helps to keep fraud low; sellers know that if they try to sneak in fake cards or rip anyone off, their access to livestreaming — and thus their audience — could vanish.

The company tells me that this Series B round was led by Anu Hariharan of Y Combinator Continuity fund, and backed by Andreessen Horowitz, Animal Capital, and a number of angels.

Source link

Click to comment

Leave a Reply



Texas Democratic governor candidate Beto O’Rourke continued his tour through Republican towns this week to speak to voters, and he wasn’t holding back. While...


A growing brush fire near Gorman on Wednesday evening produced an apparent “fire tornado,” footage captured by a television news helicopter showed. The video,...


Placeholder while article actions load As US public health authorities deploy a new strategy to expand access to the monkeypox vaccine, they need to...


U.S. Rep. Hank Johnson, D-Stonecrest, is set to host a virtual event today, Aug. 11, at 3 p.m. designed to address the housing shortage,...

Online Business Success

A gas pump is inserted inside an Audi vehicle at a Mobil gas station in Beverly Boulevard in West Hollywood, California, US, March 10,...

Loan And Finance

People tour The Dali in St. Petersburg, Fla. Chris Zuppa/The Penny Hoarder. Want to visit your favorite museum or zoo for free? Then mark...


You May Also Like


Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...