Beast Industries, owned by YouTuber Jimmy “MrBeast” Donaldson, announced Monday that it has acquired Step, a banking app designed for teens and young adults. The move comes just months after Donaldson announced plans to launch a new YouTube channel focused on personal finance and investing. His main channel has 466 million subscribers and has long been one of the most popular on YouTube, often featuring videos where Donaldson gives away large sums of money.
MisterBeast’s other business ventures include a chain of ghost restaurants, the Festables snack brand, and an upcoming phone service company called Beast Mobile. This is his company’s first decline in financial services.
Step is one of several mobile-only banking services, similar to Monzo or Revolut, but specifically targeted at teens, which may explain why Donaldson chose it over its competitors – their audience is primarily Gen-Z and Gen Alpha. Step’s investors also include Gen-Z influencers Josh Richards and Charli D’Amelio, the latter of whom has appeared on MisterBeast’s YouTube channel.
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