Beast Industries has taken over Step, a financial application targeted at Gen-Z and Gen Alpha demographics.
Beast Industries has taken over Step, a financial application targeted at Gen-Z and Gen Alpha demographics.
Beast Industries, which is owned by YouTuber Jimmy “MrBeast” Donaldson, revealed on Monday that it has acquired Step, a banking app tailored for teenagers and young adults. This acquisition follows Donaldson’s announcement of plans to launch a new YouTube channel focusing on personal finance and investment strategies. His main channel boasts 466 million subscribers and has consistently been among the most popular on YouTube, often showcasing videos in which Donaldson awards significant amounts of money.
MrBeast’s other entrepreneurial endeavors encompass a series of ghost kitchens, the Feastables snack brand, and an anticipated mobile phone service named Beast Mobile. This marks his company’s inaugural venture into financial services.
Step is among various mobile-exclusive banking options, akin to Monzo or Revolut, but is specifically designed for teens, which may indicate why Donaldson selected it over its competitors — his viewership primarily consists of Gen-Z and Gen Alpha. Step’s backers include Gen-Z influencers Josh Richards and Charli D’Amelio, the latter of whom has appeared on MrBeast’s YouTube platform.
