Whatnot Stock: When Will the IPO Go Live?

Explore ways to potentially invest in Whatnot stock before and during the Whatnot IPO. Access pre-IPO startups like OpenAI, Databricks, and Anthropic via the Fundrise Innovation Fund*.

---

Notable Whatnot News

01/08/2025: Whatnot raises $265M, pinning valuation at nearly $5B
07/21/2022: Whatnot’s valuation doubles to $3.7B
09/16/2021: Whatnot raises another $150M for its livestream
05/25/2021: Whatnot Raises $50M Series B

About Whatnot

Whatnot is a live-streaming platform and secure marketplace where collectors and enthusiasts can safely buy and sell verified products while connecting with their community. 

The company aims to “enable anyone to turn their passion into a business & bring people together through commerce.”

Known as “the QVC of the mobile age“, this innovative shopping platform mimics the thrill of in-person experiences by enabling real-time connections between communities and sellers, allowing for lively discussions about sought-after items and new products.

Sellers use the smartphone application to showcase collectibles live. Potential buyers search the marketplace to find the products they’re interested in and can purchase products directly from the app.

The startup vets all sellers before onboarding them. The company covers any unsatisfactory buyer transactions. 

Whatnot was founded in 2019 by Grant Lafontaine and Logan Head. Lafontaine is a former product manager at Google (YouTube) and Facebook. 

Its headquarters are in the Marina Del Ray area of Los Angeles. 

Watch this vintage clothing reseller explain how the platform works:

Ownership

Whatnot is a privately held startup. The ownership is made up of its founders, employees, and a few dozen venture capital firms. 

The company has raised $485 million since its founding in 2019. 

Andreessen Horowitz, Animal Capital, BOND, CapitalG, Chris Zarou, DST Global, Operator Partners, Redpoint Ventures, Scribble Ventures, EDM musician Steve Aoki, and Y Combinator.

Funding Rounds

WordPress Data Table Plugin

Valuation

The Whatnot valuation is $4.97 billion based on the January 2025 Series E funding round that raised $265 million.

IPO Potential

The Whatnot IPO date is currently unknown and likely a few years away. 

At the Series D fundraising stage, the latest venture capital investors should expect to be patient for the next few years before an IPO.

Funding rounds typically occur about every two years, but Whatnot conducted three quick raises within 14 months. It should have enough to expand its technology, headcount, and reach for another year. 

Though growing as the leader in mobile live-streaming sales, the company must prove its business model can be profitable and defensible against the likes of YouTube, Facebook, Instagram, and TikTok. 

If the company decides to pursue a public listing, watch for reporting about exploring a possible IPO with investment banks or a confidential S-1 filing with the SEC. 

The author anticipates Whatnot may be an IPO candidate when broader IPO market conditions improve. 

Bookmark this page for the latest developments.

How to Invest in Whatnot Stock

Since Whatnot is a private company, it will be challenging for retail investors to become shareowners today.

Curious investors can increase their chances of early equity ownership or obtaining IPO shares by exploring the options below.

Accredited investors have a slightly better ability to access direct shares on pre-IPO investing platforms. Non-accredited investors may be able to access shares via venture capital funds in the future. 

1. Access Whatnot stock via pre-IPO investing platforms

The author has seen limited evidence of Whatnot stock availability on pre-IPO marketplaces. 

Interested investors should monitor pre-IPO equity platforms such as Linqto, Hiive, Equitybee, Forge Global, and EquityZen for share future share availability.

Accredited investors should expect to pay at $2,500 to $50,000 investment minimum for access, depending on the platform and opportunity.

Signing up for pre-IPO marketplaces to access data deal alerts is obligation free for all interested investors. That means you can access pre-IPO data as a non-accredited investor but not invest. 

Non-accredited retail investors can invest in pre-IPO companies via the Fundrise Innovation Fund.

This funds hold multiple pre-IPO companies. However, investors cannot pick and choose. Moreover, Whatnot stock is currently not present in either portfolio.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

Check out our list of top pre-IPO investing platforms for current share availability across platforms. 

2. Participate in the Whatnot IPO through a broker

Whatnot conducted a private funding round in January 2025, providing sufficient funding for operations for now. Before long, it may need another funding round, and the public IPO markets are currently dry. Another private round is more likely.

Venture capital firms and individual investors that have invested in Whatnot may seek to liquidate ownership in the coming years when market conditions favor IPOs. 

We do not expect IPO volume to pick up until late 2023 or 2024 due to rising interest rates and multiple high-profile banking failures. 

Investors eyeing IPOs may find opportunities to buy shares at the IPO price a day before public trading through online brokers offering free access to IPOs.

The following brokers offer free IPO access:

• TradeStation 
• Robinhood

Exclusive access to highly sought-after IPOs may be restricted based on the type of brokerage accounts you hold and which brokerages have secured exclusive rights.

TradeStation has a longer track record of accessing more than 400 IPOs and secondary offerings via its partnership with Click Markets.

But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Read company S-1 filings to find evidence that these online brokers may offer access to shares. 

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy Whatnot stock after the IPO

Investors may have little luck acquiring pre-IPO shares or receiving an allocation during the IPO. Most investors will not get access. 

But waiting for stocks to become publicly traded before investing in them has multiple advantages.

Post-IPO timeframes provide investors with several sets of financials after a few quarters of reporting, whereas pre-IPO investing has limited financials available for review.

IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.

But without IPO access, post-IPO investors may be tempted to acquire shares at inflated prices. 

Stock price declines after IPOs can be excellent entry points.

Avoid purchasing overvalued shares immediately after the IPO, as they tend to experience a decline in value following lockup expirations and quarterly earnings disappointments.

In contrast, the most disruptive companies are likely to experience higher valuations a decade from now. Be selective and patient. 

4. Participate in the Whatnot Directed Share Program (Sellers, Customers)

Another possibility (far from a certainty) is a Whatnot directed share program.

When certain customer/user-centric companies file their S-1 SEC filing (to begin the IPO process), they sometimes include a directed share program for executives, affiliates, and other people who helped the company grow as a reward. 

If Whatnot eventually goes public, it can attribute its success to its online sellers and customers. As a thank you, the company may offer IPO shares to these individuals. 

This has happened before.

Uber offered shares to drivers that completed a certain number of trips.

GoPro offered shares to its email list. 

Airbnb offered IPO shares to hosts. 

Robinhood offered shares to its customers (all 22 million of them. Only about 300,000 requested shares). 

We anticipate that Turo will offer IPO shares to its hosts. 

If you’re a Whatnot seller or buyer, read the S-1 filing for clues about a directed share program and monitor all Whatnot emails as the IPO approaches. You may get a shot at IPO shares. 

We’ll follow along on this page as Whatnot continues its journey toward a public offering. 

Frequently Asked Questions (FAQs)

Is Whatnot Stock Publicly Traded?

No. Whatnot is a private company.

What is the Whatnot Stock Symbol?

There is no Whatnot stock symbol yet because it is a private company.

Here are a few Whatnot ticker suggestions that are available in the U.S.: 

• WHAT
• WN

What is the Whatnot Stock Price?

Since Whatnot is not publicly traded on a stock exchange, there is no public Whatnot stock price yet. Pre-IPO marketplace data can offer some guidance on current price. 

The January 2025 funding round completed at about $163 per share. Monitor various marketplaces for the latest price estimate. 

How does Whatnot work?

Potential sellers must apply to Whatnot through a waitlist. Sellers with previous histories of selling experience, social media followings, and proven inventories are approved.

Once approved, the seller sets up their account and schedules live shows to showcase the product, chat with customers, and sell products through an auction or “buy it now” format. 

When a product is sold, Whatnot handles the financial transaction, charging the buyer for the product and shipping fees. Then Whatnot provides a pre-paid shipping label to the seller who packages the product and sends it to the buyer. 

Sellers get paid through their online dashboard approximately 48 – 72 hours after package delivery to the buyer.

What are the Whatnot fees?

Whatnot charges an 8% commission on a sold item’s selling price plus a 2.9% + $.30 payment processing fee.

Is Whatnot legit?

Yes. Though Whatnot is relatively new, it’s an entirely legit platform to sell physical products. It may not be suitable for everyone, but it’s a legitimate marketplace for buyers and sellers. 

Whatnot has attracted significant venture capital funding from some of the most prestigious U.S. VC firms. It’s the leading mobile live-streaming sales platform.

The Whatnot Better Business Bureau (BBB) Rating & Accreditation score is “A+”. However, the website has significant negative reviews and complaints to which Whatnot has responded.

Where is the Whatnot S-1 Filing?

Whatnot has yet to release an S-1 filing to the public. There is no evidence of a confidential S-1 filing yet. 

News of a confidential or public S-1 filing would kick off the IPO process, suggesting the IPO could occur during the following two to six months. 

When the company releases the S-1 filing to investors, we’ll link to and embed the document on this web page. We’ll pay close attention to any information about a Whatnot directed share program. 

In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed. 

Conclusion

Investors become interested in buying companies riding extraordinary macroeconomic trends (social media, online video platforms, e-commerce, transition to mobile).

But acquiring ownership in Whatnot pre-IPO will be challenging for retail investors, particularly for non-accredited ones. This should remain true until the next private financing round, when some employees may look for pre-IPO liquidation options. 

Pre-IPO investing platforms have opened more opportunities for retail investors, but we’ve yet to see an indication of Whatnot share availability for retail investors.

Venture capital investing is still mostly reserved for accredited investors. 

Investors may face difficulties in obtaining pre-IPO shares.

Temper your expectations if you’re inclined to pursue pre-IPO equity in Whatnot. You’ll likely need to wait for the IPO, which could be 12 months or more away. 

Good luck if you wish to buy Whatnot stock before the IPO. Invest in pre-IPO and IPO companies at your own risk.