TikTok Shop rival Whatnot raises $265M 1/8/25
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 8 January 2025
⏱️ 9 minutes
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| 0:00.0 | The fate of TikTok, by the way, let's watch markets here as we've gone green. |
| 0:03.4 | The fate of the TikTok band will soon be in the hands of the Supreme Court as it prepares to hear arguments on Friday. |
| 0:08.9 | As today is one of the TikTok shops' e-commerce rivals, WhatNot, Secures a massive new funding round. |
| 0:15.0 | Our Dear Durbosa has some details from her exclusive interview with WhatNot CEO in today's tech check. |
| 0:19.9 | Hi, Dee. |
| 0:20.5 | Hey, good morning, Carl. So if TikTok |
| 0:22.1 | shop introduced American users to live stream shopping, whatnot has also been making inroads, |
| 0:27.9 | and it's ready to seize the opportunity should TikTok go away. Now, the LA-based startup this morning |
| 0:33.0 | announced new investment at a $5 billion valuation. That is a 34% jump from its last valuation in 2022. |
| 0:40.0 | It is also a rare non-AI startup attracting big dollars in the current venture capital landscape, |
| 0:46.2 | which has been especially tough for e-commerce. |
| 0:48.4 | Now, we spoke exclusively with What Notts, co-founder and CEO Grant LaFontaine, |
| 0:52.9 | who said that it's not just AI companies |
| 0:55.4 | that can build strong businesses. |
| 0:58.0 | This like meme in the world that maybe like consumer is dead or some of these other |
| 1:04.0 | segments of the market aren't doing particularly well. |
| 1:07.5 | And, you know, the truth is at the end of the day, if you're creating a really great business, consumers love it, and you have a strong underlying business model, you're able to go and raise capital. |
| 1:18.4 | And, you know, it's not just AI companies that can build really strong businesses. |
| 1:22.6 | Nothing's changed. |
| 1:25.6 | Now, this round, which was over $200 million, is evidence of that and could also suggest |
| 1:30.8 | that investor interest in consumer brands is recovering for the right company, of course. LaFontaine |
| 1:36.4 | told me that whatnot doubled sales to $3 billion over the last year and does have a path |
... |
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