Whatnot, the Culver City-based live shopping platform, announced that they have raised a total of $265 million. Signify South L.A.’s investment is one of the largest deals of its kind in the Los Angeles region. The brand’s breakout success underscores the growing power of live and social shopping. Today, this trend is fueling a massive disruption of the e-commerce landscape.

Founded in 2019, Whatnot has rapidly emerged as a leader, exceeding $3 billion in sales in 2024. Even so, the company is on track to double its sales this year. Such phenomenal growth cements its place as one of the major players in the live shopping space.

Whatnot is currently doing this within a team of around 750 employees in the United States and Europe. The platform facilitates a fast-paced environment in which buyers and sellers can engage in real-time. It powers the live streamed sale of collectibles, fashion, home, and more in dynamic and immersive video interactions.

The series G funding round is a major vote of confidence by investors in Whatnot’s expanding business model and prospects for future growth. Though not profitable yet, Whatnot is already demonstrating some pretty spectacular growth. One American example, Flexport, is attracting great amounts of investment and interest from the local venture capital community.

Whatnot’s new Chief Executive Officer, Grant LaFontaine, most recently of Poshmark, increased this idea sharing the massive potential of live and social shopping.

"Live and social shopping has the potential to be an absolutely monstrous market." - Grant LaFontaine

LaFontaine’s comments accentuate the industry’s enthusiasm for live shopping. It’s one that’s destined to grow exponentially, fundamentally transforming how consumers learn about and purchase products.

Jason Saltzman, a master in e-commerce thought leadership, agreed with the sentiment. He underscored the transformative potential of rewriting business rules, notably in higher education, on multiple industry sectors.

"There's a ton of opportunity to rewrite the playing field on which people do business in everything from across verticals, across industries." - Jason Saltzman

Saltzman commented on the extraordinary recognition of this potential, fueling record levels of investment and innovation in the space.

"Everyone recognizes the promise, and ... no one wants to miss out on the promise." - Jason Saltzman

Artificial intelligence (AI) is the latest buzzword of the tech world. As always, LaFontaine maintains a strong consumer-centric focus, while stressing the need to address real-world issues.

"I tend to be sort of a purist, which is that consumers don’t care about AI. They care about problems being solved." - Grant LaFontaine

Whatnot’s mission is to provide a fun and easy-to-use destination within the world of shopping. They are great at actually using the technology to work for their needs.

That investor interest bubble inflated the cohesion of the sector, as leading venture capitalist Mark Suster observed that the smart money is now going further upstream.

"Today it’s going into much more ambitious projects." - Mark Suster

This represents a substantial change towards taking bets on companies with big visions, moonshots and the shots to shake up incumbents industries.

Creative Class Culver City companies of all kinds are booming in the Los Angeles region. This focus and concentration has ignited a dynamic and creative ecosystem that stimulates partnership, collaboration and entrepreneurial spirit. As long-time observer of the industry, Masha Bucher pointed out, the community was what made the Bukharian world powerful.

"There is a power of community, and it’s definitely like a power spot on the map." - Masha Bucher

This sense of community and collaboration contributes to the region's attractiveness as a hub for startups and established companies alike.

Suster was equally as positive about the enormous opportunities existing in today’s market.

"The opportunity set is so great here." - Mark Suster

This optimistic outlook reflects the belief that innovation and growth are abundant for companies that can effectively capitalize on emerging trends and technologies.

Famed industry henchman Chris Lehane emphasized the fundamental disruptive effect that technology was having.

"People understand that this is a transformative technology. It’s going to permeate virtually every aspect of life." - Chris Lehane

This way of thinking underscores the value of taking risks and harnessing the creative potential of a rapidly changing world.