Whatnot is describe by LaFontaine as “Twitch meets eBay,” alluding to the app’s streaming and auction features. The app has roughly 15 categories, with sports cards being the most popular. Whatnot earns money by charging an 8% fee on all transactions.
According to LaFontaine, the network functions as an “Instagram feed” for live streams of products, allowing purchasers to simply browse channels and deals. Sellers can provide detailed information about the things they’re selling on the platform.
Despite hardly spending any money on advertising, the company has garnered hundreds of thousands of consumers and thousands of sellers, according to LaFontaine. “Logan (Head) created the product in such a way that people would share it out to acquire natural development,” LaFontaine explained. “Our community, both vendors and buyers, adored it, so it grew organically through word of mouth.”
Whatnot was the most downloaded live commerce app in the United States between January and September, according to San Francisco-based market intelligence firm Sensor Tower Inc., beating out Hollywood-based Commerce Media Holdings, better known as NTWRK, and West Chester, Pa.-based QVC Mobile Shopping, which was the previous year’s top two for the same time period.
How to Build an App like WhatNot?
Study the market:
A lot of planning is required to build a high-quality live stream shopping platform that is both smooth and effective for all customers. The first step is to study the market, plan the database and service structure, and develop user scenarios that show how the system could be used. The elements of a car rental system are choosing to ensure that the product works smoothly.
Draft a design:
After you’ve completed the first round of research and planning, you may begin designing. The major focus should be on UI simplicity and efficient usage of company identification when it comes to vehicle rental website design. Because developing an online car rental reservation system isn’t the same as creating a platform, the same goes for the mobile app design you produce. No effective and convenient service system can develop in today’s society without the use of mobile apps.
Develop an MVP:
We frequently recommend starting with a Minimum Viable Product (MVP). An MVP is a product with only a few features that may be launch to test the market and the product. The product can be improve and developed in successive iterations. It’s also time to emphasize the MVP features at this point.
You can move on to development after you’ve decided on the overall design and functionality, which should be divided down into iterations. At this point, the front-end and back-end programming, as well as the necessary integrations, have all agreed upon. At this time, you should consider the API. What is the API’s purpose? Without API scaling and mobile apps, developing for multiple platforms would become time-consuming and expensive.
Test the app:
Whether it’s an MVP, which we normally advise our clients to start with, or a full-featured version, testing begins as soon as development is completes. We check the generated products using automated methods, manual methods, or both, depending on the project needs and contract. If there is a mobile app, we can help with its submission to Google Play and the App Stores because we are aware of all of the specifics. We are always eager to share our expertise and reduce the time it takes for our products to reach the market.
Conclusion
Investors have taken notice of Whatnot’s rapidly expanding platform. The startup has raised $220 million in three rounds of fundraising since March. Its most recent round, a $150 million Series C, increased the company’s overall capital and gave it a $1.5 billion valuation.