Whatnot, a live commerce platform, has raised $545 million in a Series G round, pushing its valuation to $20 billion, nearly doubling the $11.5 billion valuation from October 2025. The company reported $8 billion in gross merchandise value for 2025, more than doubling from the prior year, while revenue crossed the $1 billion mark. Black Friday alone accounted for over $100 million in live commerce sales on the platform. Despite a venture capital landscape concentrated on AI infrastructure, Whatnot attracted major investors including DST Global, CapitalG (Google’s investment arm), Sequoia Capital, and Alkeon Capital, bringing its total funding to approximately $1.5 billion.
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