CEO Grant LaFontaineFounded 2019HQ Marina del Rey, US
Whatnot is a live shopping marketplace for collectibles and other consumer goods. It combines livestream selling with authenticated buying and selling, and is based in Marina del Rey, US.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$5.1B
Series E, Sep 2024, Perplexity
UpMarket Estimate
$4.8B
Based on UpMarket valuation model
Previous Price
$3.7B
Series D Jan 2022
How to Invest in Whatnot Through UpMarket
Whatnot shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Whatnot offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Sep 2024
Series E
$5.1B
Jan 2022
Series D
$3.7B
Nov 2020
Series C
$1.5B
Aug 2019
Series B
$470M
Jun 2018
Series A
$175M
Why Investors Are Watching Whatnot
Growth Signal
Whatnot raised $260M in Series D to expand beyond collectibles
Whatnot raised a $260 million Series D co-led by DST Global and CapitalG. The three-year-old livestream shopping platform said the funding would help it expand beyond collectibles.
Competitive Moat
Whatnot positions as verified live marketplace for collectors
Whatnot is described as a live platform and marketplace that lets collectors and enthusiasts connect to buy and sell verified products. That verified-products positioning supports trust in a category where authenticity matters.
Market Opportunity
Whatnot raised $50M as collectibles commerce scales online
Whatnot raised a $50 million Series B led by Y Combinator Continuity, with participation from Andreessen Horowitz, Animal Capital and Ryan Tedder. Built for online buying and selling of collectibles, the company was already reported to have raised $74.7 million to date.
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No. As of March 2026, Whatnot is a private company and does not trade on any public stock exchange. Accredited investors can access Whatnot shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Whatnot does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Whatnot shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Whatnot shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Whatnot operates a livestream shopping marketplace for collectibles and other consumer goods, and is valued at $4.8B; its $260M Series D funds expansion beyond collectibles — accredited investors can access Whatnot stock through UpMarket.