CapitalG, the growth equity subsidiary of internet group Alphabet, participated in a $150m in a series C round for US-based livestream shopping platform developer Whatnot yesterday valuing it at $1.5bn.
Venture capital firm Andreessen Horowitz and accelerator Y Combinator’s YC Continuity fund also took part in the round, as did private investors Andre Iguodala, Logan Paul, Gokul Rajaram and Nilam Ganenthiran.
Founded in 2019, Whatnot operates an online streaming and shopping platform for collectable merchandise such as trading cards and toys, letting users host live video auctions for their products.
The company recently added vintage fashion and sneakers to its offering and plans to expand to 20 categories by the end of this year.
Whatnot co-founder Grant Lafontaine said: “In partnership with our existing investors and CapitalG, we are armed with the capital needed to continue to grow and hire at the pace we need to maintain our position as the largest livestream platform in the United States.”
The round took the company’s overall funding to $225m, it said. It received $50m in May this year in a series B round led by YC Continuity, which invested together with Animal Capital, Mint 10, Andreessen Horowitz and assorted individuals.
Andreessen Horowitz had led a $20m series A round for Whatnot two months earlier that was also backed by Y Combinator, Wonder Ventures, Operator Partners, Scribble Ventures and angel investors Steve Aoki and Chris Zarou.
Whatnot had previously collected $4m in a December 2020 seed round featuring Scribble Ventures, Operator Partners, Wonder Ventures, Y Combinator and a number of individuals.