Whatnot Live Shopping Hits $20B Valuation as US Sales Surge
Culver City startup Whatnot hit $8B in 2025 live sales and a $20B valuation, overtaking TikTok's US livestream sales as overspending concerns grow.
Live shopping combines real-time video with instant checkout. Viewers watch a host demonstrate products, ask questions in chat, and buy without leaving the stream. The format took off in China's livestream commerce boom and has since spread to Western markets through social apps, dedicated marketplaces, and retailers running their own broadcasts. Popular categories include beauty, fashion, collectibles, trading cards, and electronics.
Live shopping has grown from a novelty into a serious revenue channel. Short-video platforms are building commerce directly into their feeds. Specialist marketplaces built around auctions and collector communities are drawing significant investor attention. Competition among platforms is changing how creators earn money and how brands reach customers.
Artificial intelligence adds another layer, with shopping assistants, automated recommendations, and tools that handle marketing for sellers. Platforms are also experimenting with fees, paid tiers, and managed services, which changes the economics for merchants of every size.
This hub tracks the business and technology behind interactive commerce, including:
Whether you sell, build, invest, or just watch, follow this page for ongoing coverage of where live shopping is headed next.
Culver City startup Whatnot hit $8B in 2025 live sales and a $20B valuation, overtaking TikTok's US livestream sales as overspending concerns grow.
TikTok Shop's global sales passed $50B in H1 2026, while Instagram swapped in-app checkout for Reels affiliate links, live ads and AI shopping agents.
TikTok Shop is piloting a US managed service that runs sellers' ads, creators, listings and AI video for a $10,000 fee plus a 10–20% commission on each sale.
TikTok says US live shopping sales more than doubled in H1 2026, but live's share of Shop sales fell. Instagram dropped live checkout and now sells live ads.
TikTok launched an AI shopping assistant and one-click checkout, and Best Buy joined TikTok Shop, as US social commerce sales are forecast to pass $100B in