Who Owns Whatnot?
Whatnot is owned by Whatnot, Inc., a privately held American company headquartered in Los Angeles, California. Founded in 2019 by Grant LaFontaine and Logan Head, the live shopping platform has raised approximately $968 million in venture capital and was valued at $11.5 billion in its October 2025 Series F round led by DST Global and CapitalG. It is not publicly traded.
Who Owns Whatnot?
- Parent Company: Whatnot, Inc.
- Ownership Type: Wholly owned
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Whatnot | Whatnot, Inc. | Wholly owned |
History of Whatnot
- Founded: 2019
- Founders: Grant LaFontaine, Logan Head
Whatnot was founded in 2019 by Grant LaFontaine and Logan Head in Los Angeles. LaFontaine had previously founded Kit.com, a product review site acquired by Shopify in 2017, and spent time at Google. Head was a product manager with experience in marketplaces. The original concept was deliberately narrow: a live video marketplace for Funko Pop collectors, where hosts could auction figures in real time.
The collector-first model worked because it solved trust problems that plagued text-based marketplaces like eBay. Buyers could watch a seller handle the item live. Early categories expanded from Funko Pops to sports trading cards, action figures, comics, and memorabilia.
Between 2020 and 2022, Whatnot raised successive venture rounds as livestream shopping attracted investor attention following its explosive growth in China. The company reached unicorn status during this period and used the capital to build moderation, payments, and seller tooling while expanding into women's fashion, sneakers, and electronics.
In 2024, sellers on Whatnot sold a combined $3 billion in goods, and the platform introduced a rewards program letting sellers offer coupons, free shipping, and exclusive show access to repeat buyers. In January 2025, the company raised a $265 million Series E at a $4.97 billion valuation, and in June 2025 the app ranked inside the top 15 free iPhone apps in the United States and first in the shopping category.
October 2025 brought the $225 million Series F at an $11.5 billion valuation. The company reported more than $8 billion in sales for 2025, over 20 million new accounts created that year, and roughly 60 percent share of live commerce across North America and Europe. It expanded internationally into markets including the United Kingdom, Germany, France, and Australia.
About Whatnot, Inc.
What is Whatnot?
Whatnot is a live shopping marketplace company headquartered in Los Angeles. Its platform lets sellers auction and sell items through real-time video shows, with buyers bidding or purchasing while watching. It is the largest live commerce platform in North America and Europe.
Who owns Whatnot?
Whatnot is owned by its private parent company, Whatnot, Inc. There is no larger corporate parent. Control rests with co-founders Grant LaFontaine and Logan Head and venture investors including DST Global, CapitalG, Greycroft, and Andreessen Horowitz.
Is Whatnot a public company?
No. Whatnot is privately held. It was valued at $11.5 billion in its October 2025 Series F round and has raised approximately $968 million in total funding.
When was Whatnot founded?
Whatnot was founded in 2019 by Grant LaFontaine and Logan Head in Los Angeles, initially as a live marketplace for Funko Pop collectibles.
How does Whatnot make money?
Whatnot earns revenue primarily through an approximately 11 percent commission on sales, plus a growing advertising business where sellers pay to promote shows and listings. Estimated 2025 revenue was in the range of $700 million to $1 billion.
Is Whatnot profitable?
No. Whatnot remains unprofitable as it invests in international expansion, trust and safety, and new product categories, despite reporting more than $8 billion in platform sales in 2025.
What does Whatnot sell?
Whatnot does not sell inventory itself. It operates a marketplace where independent sellers offer trading cards, comics, collectibles, women's fashion, sneakers, electronics, and other goods through live video shows. Sports cards and trading card games were its top-selling categories in 2025.
- Founded: 2019
- Headquarters: Los Angeles, California, USA
- Company Type: Privately Held
- Revenue: estimated $700 million to $1 billion (2025, based on GMV and take rate)
- Employees: Approximately 900
Where Is Whatnot Made / Based?
- Headquarters: Los Angeles, California, USA
Whatnot Categories & Tags
Whatnot Recalls & Controversies
Whatnot's auction-style format has attracted recurring criticism. Media reports and Better Business Bureau complaints have documented buyer allegations of counterfeit or misrepresented goods, and the company has invested in authentication programs for trading cards in response.
A structural controversy involves the platform's similarity to gambling. Features such as mystery boxes and "breaks," where buyers purchase unknown slots or packs revealed live, have drawn scrutiny from consumer advocates and comparisons to loot boxes. In 2025 the platform added spending limits to address problem purchasing. Some sellers and buyers have also complained about account bans and arbitration-heavy dispute resolution. None of these matters has produced a major regulatory action, but the gambling adjacency remains the brand's most substantive reputational risk.
Whatnot Ownership: Pros & Cons
Advantages
- +Founder-led control with a CEO who has run the company since 2019
- +Approximately $968 million in venture funding provides capital for international expansion
- +Market leadership position with roughly 60 percent share of Western live commerce
- +Venture backers include deep-pocketed firms such as DST Global, CapitalG, and Sequoia
Considerations
- -Unprofitable business model dependent on continued GMV growth
- -Gambling-adjacent features create regulatory and reputational exposure
- -High valuation expectations mean pressure to eventually deliver a return through IPO or sale
- -Trust and safety costs scale with seller count and are difficult to automate
Frequently Asked Questions About Whatnot
Sources & Further Reading
Competitors to Whatnot
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| What Not Brands | United States | 2019 | Mass market | United states | All Genders | |
| Alibaba | China | 2010 | Mass market | Global | Unisex | |
| Collectors | United States | 1991 | Mass market | United states | All Genders |
Learn More About Competitors
Retail EcommerceWhatnot
Owned by What Not Brands Ltd.
Live shopping marketplace where users buy and sell through real-time video auctions across categories including fashion, sneakers, sports cards, and collectibles.
live-shoppinge-commercemarketplace
Retail EcommerceAliExpress
Owned by Alibaba Group Holding Limited
International e-commerce platform owned by Alibaba Group, specializing in cross-border retail.
e-commercemarketplacecross-border
SportsPSA
Owned by Collectors Holdings, Inc.
Professional Sports Authenticator, the world's largest trading card and memorabilia grading service, owned by privately held Collectors.
card-gradingtrading-cardscollectibles
Competitive Analysis
Market Positioning: Whatnot competes with 3 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
Independent Alternatives to Whatnot
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Retail EcommerceAmazon
Owned by Amazon.com Inc.
American e-commerce marketplace launched in 1995 by Jeff Bezos. The flagship retail brand of Amazon.com Inc. and the largest online retailer in the United States.
ecommerceonline-marketplaceretail
Publicly Traded
Amazon operates independently without a large parent corporation.
Retail EcommerceBest Buy
Owned by Best Buy Co., Inc.
American consumer electronics retail brand owned by Best Buy Co., Inc., the largest consumer electronics retailer in the United States with over 1,000 stores across North America.
electronics-retailconsumer-electronicsretail
Publicly Traded
Best Buy operates independently without a large parent corporation.
Retail EcommerceMacy's
Owned by Macy's, Inc.
America's largest department store brand, founded in 1858, operating approximately 430 stores and the flagship Herald Square location.
department-storeretailfashion
Publicly Traded
Macy's operates independently without a large parent corporation.
Retail EcommercePetco
Owned by Petco Health and Wellness Company, Inc.
American pet specialty retailer offering pet supplies, food, services, and veterinary care through retail stores and e-commerce, focusing on pet health and wellness.
pet-suppliespet-foodretail
Publicly Traded
Petco operates independently without a large parent corporation.
Retail EcommerceSprouts Farmers Market
Owned by Sprouts Farmers Market, Inc.
American natural and organic grocery retailer with over 430 stores across 24 states. Publicly traded on NASDAQ as SFM.
organicnatural-foodsgrocery
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Sprouts Farmers Market operates independently without a large parent corporation.
Retail EcommerceDisplate
Owned by GWD Concept sp. z o.o.
Polish marketplace for metal posters founded in 2013, majority owned by private equity firm Mid Europa Partners, with more than 40,000 independent artists.
metal-postersmarketplacewall-art
Privately Owned
Displate operates independently without a large parent corporation.
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