Whatnot is reportedly in discussions to raise a new funding round at roughly a $20 billion valuation, a sign that investors still see major upside in certain consumer internet companies. The startup is best known for live shopping, where sellers use livestreams to market products and interact with buyers in real time.
The financing talks suggest Whatnot has built enough momentum to stand out even as much of the startup market remains focused on artificial intelligence. Its business model centers on making online shopping more interactive, combining entertainment, community and instant purchasing in one platform.
According to the report, growth in fashion and collectibles has helped drive the company’s appeal. Those categories fit naturally with livestream selling, where product details, rarity and condition can be shown live while viewers respond and buy on the spot.
If a deal is completed near that level, it would mark a notable valuation for a consumer startup in the current market. It also points to continued belief that live commerce can carve out a significant place in online retail beyond the broader AI investment wave.
