Whatnot, a livestream shopping platform, is booming as TikTok Shop’s fate is uncertain. The platform, founded in 2019, saw over $3B in goods sold last year including sneakers, collectibles, vinyl records, and handbags. It recently raised $265M from investors, bringing their valuation to almost $5B. Its latest funding round comes at a critical time, as the potential U.S. ban on TikTok could push live sellers to seek out other apps. Recognizing TikTok Shop’s success, creators are certainly taking advantage of the rise in U.S. sales on livestream shopping. (The Business of Fashion)
🔍 YPulse predicts: Livestream shopping will finally break through to Gen Z this year
