Whatnot Inc., a livestream shopping platform, has raised US$265 million in a funding round led by Greycroft Partners, DST Global, and Avra, bringing its valuation to US$4.97 billion.

This platform, founded in 2019, allows users to sell products through livestreams.

They offers an alternative to TikTok’s shopping features and has hosted over 175,000 hours of livestreams weekly across eight countries.

In 2024, Whatnot facilitated over US$3 billion in transactions for products like sneakers, collectibles, and handbags.

The company plans to use the new funds to expand internationally, introduce new retail categories, and enhance customer service.

They also plan to hire more engineers and repurchase up to US$72 million of its shares.