SF Jun 18, 2026 · 1:18 PM

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Whatnot raises $225 million at an $11.5 billion valuation as live commerce finally breaks through in the West

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Whatnot raises $225 million at an $11.5 billion valuation as live commerce finally breaks through in the West

Whatnot closed a $225 million Series F co-led by DST Global and CapitalG at an $11.5 billion valuation, more than doubling its January 2025 value after doubling GMV to $8 billion in 2025. With one in eight sellers now full-time on the platform and DST Global's pre-IPO track record in play, the Los Angeles company has become the clearest evidence that live commerce can work in Western markets.

Julian Lim

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