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Whatnot Inc., a livestream shopping platform that competes with TikTok Shop, raised $265 million at a valuation of $4.97 billion in a funding round led by Greycroft Partners, DST Global and Avra.
The startup, which was founded in 2019, has emerged as an alternative to TikTok’s shopping features. Last year, more than $3 billion worth of goods were sold on Whatnot, including sneakers, collectibles, vinyl records and handbags.
“The opportunity for what live and social commerce can do for…
