MrBeast is looking to raise around $150,000,000 for his business at an evaluation of about $1.5 billion, Axios has reported. Jimmy Donaldson aka MrBeast is reportedly looking to quickly quickly expand his massive video empire further across restaurants, consumer goods and merchandise.
There are several stats in Donaldson’s favor. For example, Axios brings up the following points:
- With 107 million YouTube channel subscribers, MrBeast’s main channel is the fifth most-subscribed YouTube channel globally.
- His viral internet stunts and challenges, combined with his commitment to testing and iterating each video and its thumbnail, have helped the 24-year-old create one of the most successful YouTube channels in the world.
- MrBeast began posting YouTube videos more than 10 years ago. Forbes estimates that MrBeast makes more than $54 million per year.
So, what’s the Hustle here?
Well, according to Axios, MrBeast has been speaking with venture investors in the past few weeks about what would be his first institutional investment into his overall portfolio, which includes several businesses, in addition to his YouTube empire.To be very specific, Axios brought up the following information:
- In addition to his own YouTube channel, MrBeast runs Beast Reacts (19.8 million followers), MrBeast Gaming (29.1 million followers), and MrBeast Shorts (16.2 million followers).
- In 2020, MrBeast launched a food delivery business called MrBeast Burger, which delivers in more than 1,000 locations across the U.S., Canada, and the U.K.
- Last month, he opened his first physical restaurant for MrBeast Burger, in New Jersey, drawing thousands of visitors to the location on opening day.
- In January, MrBeast debuted his own snacks business called Feastables, which made over $10 million in its first few months of operations.
In what may come as a surprise to some, MrBeast‘s ventures have already received significant venture investments. When one tries to figure out what MrBeast will do next, it’s important to take the following into consideration:
- Feastables raised $5 million in January at a $50 million valuation, from 776, Shrug Capital and Sugar Capital, per Insider.
- While MrBeast Burger is a much larger business than Feastables, Feastables is much more profitable, one source said.
- Feastables will bring in “tens of millions” in revenue this year, according to one source. MrBeast Burger tweeted in July that MrBeast Burger “has shared over $100 million in revenue with restaurants across America.”
- MrBeast also makes significant advertising revenue from his YouTube channels, which he says he uses to reinvest in his content.
- Many of MrBeast’s most viral videos center around elaborate philanthropic stunts and giveaways.
It appears as though MrBeast is gearing up for the next phase and stage in his meteoric rise to the top. Look out billionaires, there’s a new kid on the block. And he’s a (Mr)Beast!
