What: American live shopping platform Whatnot raises $225 million in Series F funding, doubling its valuation to $11.5 billion as live shopping gains mainstream traction.

Why it is important: This development reflects the accelerating adoption of live shopping and growing investor confidence in new retail models, as seen in recent industry trends.

Whatnot has raised $225 million in Series F funding, bringing its valuation to $11.5 billion. Since its founding in 2019, the company has attracted nearly $1 billion in investment, highlighting strong support from investors and the growing appeal of live shopping. Whatnot has expanded internationally and recently entered the UK sportswear market, while its customer retention rate now exceeds 80% month-on-month. The platform’s gross merchandise value for 2025 has already surpassed $6 billion, more than double its total for 2024. Competing with Amazon and TikTok Shop, Whatnot focuses on building engaged communities and supporting small businesses. Its recent growth and expansion reflect a shift in retail, as live shopping becomes more widely adopted and platforms compete to attract both sellers and buyers.

IADS Notes: Whatnot’s funding and expansion, reported in October 2025, reflect wider changes in retail, such as TikTok Shop’s rapid growth in the UK and the rise of social commerce (Forbes, February 2025; Journal du Net, January 2025). The move into sportswear is in line with strategies by Decathlon and Frasers Group (Fashion Network, November 2024; Retail Week, November 2024). The focus on customer retention and community engagement is also seen at retailers like Selfridges and Nykaa (Fashion Network, May 2025; Inside Retail, September 2025), while competition from TikTok Shop and Amazon continues to shape the sector (BoF, December 2024)

Whatnot announces another fundraising round, valuation now up to $11.5bn