Beast Industries, the company owned by popular YouTuber Jimmy “MrBeast” Donaldson, has acquired Step, a mobile banking app tailored for teenagers and young adults. This strategic move follows Donaldson’s announcement of venturing into personal finance and investing content on a new YouTube channel. With a colossal subscriber base of 466 million on his main channel, MrBeast is known for his philanthropic acts of giving away substantial sums of money.
MrBeast’s diverse business portfolio includes ghost restaurants, the Feastables snack brand, and an upcoming venture into the phone service sector with Beast Mobile. This acquisition marks his company’s entry into the financial services arena.
Step, similar to other mobile-only banking platforms like Monzo and Revolut, caters specifically to the teenage demographic, aligning well with MrBeast’s predominantly Gen-Z and Gen Alpha audience. The app is backed by Gen-Z influencers Josh Richards and Charli D’Amelio, the latter having collaborated with MrBeast on YouTube.
Source: The Verge