MrBeast acquires teen banking app Step
Beast Industries, the company owned by YouTuber Jimmy “MrBeast” Donaldson, announced on Monday that it has acquired Step, a mobile banking app created for teenagers and young adults.
The acquisition follows Donaldson’s recent announcement that he plans to launch a new YouTube channel focused on personal finance and investing, News.Az reports, citing The Verge.
His main YouTube channel, which has 466 million subscribers, remains one of the platform’s most popular.
It is widely known for videos featuring large-scale giveaways in which Donaldson distributes substantial amounts of money.
In addition to his online content, Donaldson has expanded into several other business ventures. These include a network of ghost restaurants, the Feastables snack brand, and an upcoming mobile phone service called Beast Mobile. The purchase of Step marks his company’s first entry into the financial services sector.
Step operates as a mobile-only banking platform, similar to services such as Monzo and Revolut, but it is specifically tailored to teenagers. This focus on a younger audience may have influenced Donaldson’s decision to acquire the company, given that much of his fan base consists of Gen Z and Gen Alpha viewers. Step has also attracted investment from Gen Z influencers Josh Richards and Charli D’Amelio. D’Amelio has previously appeared in videos on MrBeast’s YouTube channel.
By Nijat Babayev
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