Live-streaming shopping platform Whatnot has raised US $ 265 million in a recent funding round, boosting its valuation to nearly US $ 5 billion, according to reports.
This significant investment underscores a critical shift in how consumers are engaging with retail: through live, interactive experiences.
Whatnot experienced explosive growth in 2024, exceeding US $ 3 billion in gross merchandise value. Fashion brands are increasingly leveraging this platform to expand their reach and cultivate deeper customer connections.
The platform plans to utilise the funding to expand into new markets like Australia and grow the existing business and reach in North America and Europe. The live shopping app continues to target growth in Western markets with the success it has achieved in Asia.
This trend extends beyond just fashion. From beauty products to electronics, live-streaming commerce is gaining traction across various sectors. Brands are leveraging the interactive nature of these platforms to offer personalised recommendations, answer questions in real-time, and build a sense of community around their products.
