NTWRK Raises $50M in Funding
NTWRK, a Los Angeles CA-based livestream shopping platform, raised $50M in funding.
The round was led by Growth Equity business within Goldman Sachs Asset Management and global luxury group Kering, with participation from LionTree Partners and Tenere Capital. They joined previous investors Main Street Advisors (whose investors include Jimmy Iovine, Drake, LeBron James), Live Nation, Foot Locker. In conjunction with the funding, Allison Berardo, a Vice President within the Growth Equity business, who will be joining the Board of Directors at NTWRK.
The company intends to use the funds to further accelerate growth, market share and global presence.
Led by CEO Aaron Levant, NTWARK provides a livestream shopping platform where “entertainment meets e-commerce.” Built on a digitally-innovative model of daily product drops, livestream shopping festivals and exclusive partnerships with world-renowned brands and creators, NTWRK has fostered an organic global community of artists and fans since its launch in 2018, providing a curated digital shopping experience for Gen-Z and Millennial consumers.
By providing a platform for creators to sell goods to and interact with consumers in real time, the company is blending entertainment and commerce, giving brands, artists, and personalities the ability to create original content and sell exclusive product.