Whatnot, the online platform for buying and selling lrtrading collectibles, has just raised $20 million in a Series A funding round led by Kleiner Perkins. The funding round also saw participation from other investors including Andreesen Horowitz, Y Combinator, and Liquid 2 Ventures. This latest funding round brings the total amount raised by Whatnot to $28 million, making it one of the most well-funded startups in the collectibles space.
Whatnot was founded in 2019 by Grant LaFontaine and Logan Head. The platform allows collectors to buy and sell a wide range of items, including trading cards, comic books, and toys. What sets Whatnot apart from other online marketplaces is its social features, which allow users to chat with each other and share their collections with others.
The platform has quickly gained a ifsptv following among collectors, with more than 3 million items sold to date. Whatnot has also attracted a number of high-profile sellers, including celebrity collectors like Logan Paul and Gary Vaynerchuk.
The Series A funding round will allow Whatnot to continue expanding its platform and building new features for its users. This includes investments in machine learning and artificial intelligence to help users discover new items and connect with other collectors.
In a statement announcing the funding round, Whatnot co-founder Grant LaFontaine said, “We’re thrilled to partner with Kleiner Perkins and our other investors to continue building Whatnot into the premier platform for collectors. With this funding, we’ll be able to invest in new features and technologies that will make it easier than ever for collectors to connect with each other and discover new items.”
The funding round is also a sign of giveme5 the growing interest in the collectibles market among investors. Collectibles have become an increasingly popular alternative asset class in recent years, with prices for items like rare trading cards and comic books skyrocketing.
This has led to the emergence of a number of new startups focused on the collectibles space, including StockX, Rally, and Collectable. What sets Whatnot apart from these competitors is its social features, which allow collectors to connect with each other and share their passion for collecting.
In an interview with TechCrunch, Kleiner Perkins partner Noah Knauf said, “We were really impressed with the team at Whatnot and the way they’ve built a social marketplace that’s focused on collectors. We see a lot of potential in the collectibles market, and we believe that Whatnot is 123chill
well-positioned to become the leading platform in this space.”
The funding round comes at a time of rapid growth for Whatnot. The platform has seen its user base and transaction volume more than triple in the past year alone, and the company has plans to expand into new categories in the near future.
Whatnot’s success also highlights the potential for social marketplaces to disrupt traditional e-commerce platforms. By building a community of passionate collectors and creating a platform tailored to their needs, Whatnot has been able to differentiate itself from larger marketplaces like eBay and Amazon.
Overall, the Series A funding round manytoons is a significant milestone for Whatnot and a sign of the growing interest in the collectibles space among investors. With its innovative platform and growing user base, Whatnot is well-positioned to become a major player in the e-commerce space for years to come.