Beast Industries, the retail and media powerhouse established by top YouTuber Jimmy Donaldson, has acquired Step, a mobile-first financial services app designed for the next generation of spenders, according to a Monday press release. Terms of the deal have not been made public.
Donaldson, known online as MrBeast, said the deal reflects his own experience growing up without financial guidance.
The acquisition will unite Step’s innovative technology and full-tech fintech team with Beast Industries’ global audience and philanthropic initiatives to make financial wellness tools and education more accessible, especially for younger users.
Jeff Housenbold, CEO of Beast Industries, said in a statement that the acquisition underscores the company’s belief that financial health is essential to overall well-being and that many people still lack access to the tools and education needed to build long-term financial security.
He noted that the deal aims to give people the tech‑driven solutions they need to build financial security and money‑management skills.
Step, which has attracted more than 7 million users through its mobile platform, has been focused on improving the financial future of the next generation through accessible tools, financial literacy, and credit-building, according to CEO CJ MacDonald.
The banking solution previously raised roughly $500 million from backers including Stephen Curry, Charli D’Amelio, and Justin Timberlake.
The transaction follows a $200 million investment in Beast Industries from BitMine Immersion Technologies, the leading Ethereum treasury firm, signaling potential expansion into digital asset offerings alongside traditional financial services.
Beast Industries operates one of the most-watched channels on YouTube, with more than 460 million subscribers and roughly 5 billion monthly views. The company also runs Feastables, a snack brand, and oversees philanthropic efforts that have delivered tens of millions of meals to communities in need.
Housenbold revealed just a few months ago that Beast Industries was expanding beyond entertainment into regulated sectors, with plans for a financial platform and mobile services aimed at MrBeast’s audience.
Source: https://cryptobriefing.com/beast-industries-acquisition-step/
