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TikTok Shop rival raises funds at US$5 billion valuation

  • Whatnot raised $265 million in a Series E funding round, valuing the company at $4.97 billion.
  • The funding will support expansion into new categories and international markets, including Australia and Europe.
  • Whatnot's annual gross merchandise value for livestream sales surpassed $3 billion last year.
  • Whatnot plans to buy back $72 million worth of shares to invest in its employees, reflecting strong company performance.
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TechCrunch broke the news in United States on Wednesday, January 8, 2025.
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