Live shopping platform Whatnot closed a $545 million Series G funding round led by Iconiq, Lightspeed and Avra, valuing the company at $20 billion, nearly double its valuation from less than a year ago. The platform has over 650,000 new users joining each week and has already surpassed the $8 billion in gross merchandise volume from last year. Buyer count has more than doubled over the past year. Whatnot, which claims roughly 60% of a live commerce market valued at over $22 billion, plans to invest in seller tools, AI and expansion into new markets. Founded in 2019, the company has raised approximately $1.5 billion in total.
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