🛍️ Whatnot Raises $150 Million For Its Live-Shopping Platform

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Whatnot Raises $150 Million For Its Live-Shopping Platform

Whatnot, a live-buying platform for collectors to buy and sell things, raised $150 million in its Series C funding round.

This was its third funding round in 2021, pushing the company into unicorn status with a $1.5 billion valuation.

The Series C funding round was led by returning investors A16Z and Y Combinator’s Continuity Fund, along with a new firm CapitalG (formerly Google Capital).

It also included some high-profile angel investors including Andre Iguodala of the Golden State Warriors, Logan Paul (Popular YouTuber), and Zion Williamson of the New Orleans Pelicans.

Whatnot taps into the popular live shopping trend that allows collectors to buy and sell things like Funko Pops and Pokemon cards.

With its latest funding, the company plans to expand its scope to include things like pins, vintage clothing, sneakers, sports cards, among others.

Whatever category Whatnot enters, it focuses on integrating already known and trusted sellers into their respective communities.

Moreover, every streamer on the platform is examined by the company before it can be uploaded, helping them minimize fraud.

Rivian to Roll out Membership Plans With Supplemental Charging And LTE Connectivity

American electric vehicle automaker and automotive technology company, Rivian launched a membership program that allows Rivian car owners to charge-free on its upcoming Adventure Network and Waypoints chargers.

The automaker also promises Rivian member customers energy from renewable resources such as wind and solar and also gives unlimited 4G LTE connections.

Moreover, this service from Rivian includes off-road/roadside assistance. It is an added coverage that guarantees that the company will send the member a recovery vehicle if they get stuck on the trail or need to recharge the emergency battery.

Apart from these benefits, the company has promised to add more benefits in the future including, new drive modes, in-room content, and community social gatherings.

Each new Rivian vehicle will get free access to the services for 12 months. After the initial 12 month period, customers have to pay to continue to enjoy the membership benefits.

Though the company prepares for the official debut of its first electric vehicle later this month, it has not yet disclosed the cost of its membership plans.

Twitter Super Follows Has Generated Only $6K in Its First Two Weeks

According to app intelligence data provided by Sensor Tower, Twitter creator platform “Super Follows” got off to a bleak start, generating around $6,000 in iOS revenue in the United States in the first two weeks of the featuring going live.

The creator platform contributed about $600 or so in Canada.

Some portion of this income can be accredited to Ticketed spaces, Twitter’s other in-app purchase offered in the United States; however, there is no way for this part to be calculated by an outside company.

Twitter had first announced its plans to launch Super Follows in February, where it briefed many of its upcoming initiatives to generate new revenue streams.

Twitter is also offering to create a way to charge users to access their live events with Ticketed Spaces outside the U.S., for which it has started testing a premium product for power users called Twitter Blue.

Currently, much of Twitter’s business depends heavily on advertising, and Super Follow is one of the few ways the company aims to expand.

However, Super Follows, which targets creators, has the most potential appeal to mainstream users.

Record $1.2 Billion in Ether Withdrawn From Centralized Exchanges

A record $ 1.2 billion worth of Ether was withdrawn on September 16, from centralized exchanges, according to data shared by crypto analytics provider IntoTheBlock.

This withdrawal of Ether has set a new record in short-term outflows, leading to speculation about impending price gains for Ether.

IntoTheBlock has also said that the price of Ether has grown by 60% in the 30 days following the withdrawal of $1 billion from the centralized exchanges in April.

However, the situation is different from April. In August, the Ethereum London Hard Fork upgrade (a set of five improvement proposals) introduced a burn mechanism in the Ethereum fee market, creating greater deflationary pressure on Ether supply dynamics.

According to Ultrasound Money, an estimated 309,505 Ether, worth more than $1.1 billion, has been burned in the 42 days since Ethereum Improvement Proposal 1559 went live.

Therefore, Ether has been removed from supply at a rate of roughly 5.05 ETH ($18,061) every minute or $26 million per day since the upgrade.

The booming market for non-fungible tokens on OpenSea is Ethereum’s leading decentralized application by burn rate, and it accounted for over 14% of all Ether removed from the supply.

Around The Web

💼 Facebook overhauls its business tool lineup: Today, Facebook is announcing the launch of new products and features for business owners, following the threat to its ad-targeting business pushed by Apple’s new privacy features, which now permit cellular customers to choose out of being tracked throughout their iOS apps.

🇰🇷 Korean finance minister pledges to fight to postpone crypto tax law: The Democratic Party, in South Korea’s National Assembly, aims to pass a bill postponing the crypto tax law by the end of October. As such, South Korean Minister of Strategy and Finance Hong Nam-ki has vowed that the controversial crypto tax code will come into effect on January 1, 2022.

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