Confronted with a severely weakened economy as the consequence of the policy-ordered lockdowns, governments now get ready to apply another severe blow to the economy. The favorite means is more deficit spending. In the United States, President Biden announced a stimulus program amounting to $1.9 trillion. This amount would enter an economy that is already flush with liquidity. During the past twelve years, the American central bank has expanded its balance sheet in three major boosts, first from $900 billion in July 2008 to $2.1 trillion in November 2008, then from $2.8 trillion in November 2012 to $4.5 trillion in November 2014, and, finally, from $3.8 … Continue reading →
WhatNot, a livestreamed collectibles marketplace, raised $20 million in Series A funding led by Andreessen Horowitz.Why it matters: This is a reminder that NFTs are complimenting tactile collectibles, not replacing them.Get market news worthy of your time with Axios Markets. Subscribe for free.Other investors include Operator Partners, Scribble Ventures, YC, Wonder Ventures, Steve Aoki and Chris Zarou.The bottom line: "The company currently focuses primarily on Pokémon cards, Funko Pops, FigPins and sports cards, but they mention things like comic books, video games and vintage hardware as natural fits," TechCrunch writes. "Diving into a new category means building up a community for it, convincing trusted sellers to hop on their platform and marketing to the right buyers to make it worthwhile."More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
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Live Stream Shopping Platform and Marketplace Whatnot Raises $20M Series A to Become the Premier Platform to Buy and Sell Collectibles
Led by Andreessen Horowitz, the round will enable Whatnot to aggressively expand from valuable collectibles like Pokemon and sports cards to other related categories
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LOS ANGELES, March 4, 2021 /PRNewswire/ Today, Whatnot announced it has raised $20M in Series A funding, led by Connie Chan, General Partner at Andreessen Horowitz, with participation from Y Combinator, Wonder Ventures, Operator Partners, Scribble Ventures, Steve Aoki and Chris Zarou. Raised on the heels of their seed funding round, the company plans to use the funds to rapidly accelerate hiring, and expand into new categories like comic books, vintage video games and hardware, and more.
When I first wrote about Whatnot in February of last year, they were just getting started. Aiming to be the GOAT of collectible toys, they were focusing first on being the go-to trusted spot for buying and selling authenticated Funko Pop figurines. A few months later, as they expanded into categories like pins and Pokémon cards, the company started to build out a live shopping platform — think of something along the lines of a TV shopping network, but swap out the studios and camera crews for folks at home with iPhones selling to an audience of fellow collectors.