MrBeast Sets Sights on Financial Services with New Acquisition

Beast Industries, the media and consumer goods conglomerate founded by Youtube creator Jimmy "MrBeast" Donaldson, just announced its acquisition of Step, a fintech company that wants to make financial literacy and money management accessible to all.

What's the Scoop?

• Hot Acquisition: According to a press release, Beast Industries will acquire fintech platform Step as part of a new mission to, "deliver innovative solutions that make financial wellness achievable for people at every step of their life journey." Step’s financial products are powered by Evolve Bank & Trust, and the company counts numerous celebrities on its capital table, including Steph Curry, Charli D’Amelio, Justin Timberlake, Will Smith, and The Chainsmokers.
• Financial Foundation: In a post about the purchase, MrBeast indicated that he wants to, "give millions of young people the financial foundation [he] never had," by providing the youth will tools that teach them how to invest, build credit, and manage money.
• BNMR Backing: Ethereum digital asset treasury company Bitmine aped $200M into Beast Industries last month, with BMNR Chair Tom Lee lauding MrBeast and Beast Industries as, "the leading content creator of our generation, with a reach and engagement unmatched." Although down 36% from the announcement, BMNR shares put in a 4%+ rally on the day.