Now, according to an Axios report, MrBeast, also known as Jimmy Donaldson, is looking to raise $150 million in funding for his YouTube channels and various ventures, placing the value of his businesses at $1.5 billion.
MrBeast plans to use the funds to grow his YouTube channels and diversify into restaurants, consumer goods, and merchandise. If successful, MrBeast would set a new record for the highest valuation received by an influencer-led business. Credited with pioneering a genre of YouTube videos that centers on expensive stunts, his main channel, MrBeast, is the fourth-most-subscribed on the platform, and Forbes estimates his annual revenue to be $54 million per year. In addition to his main YouTube channel, MrBeast also runs Beast Reacts, which has 19.8 million subscribers, MrBeast Gaming, with 29.1 million subscribers, and MrBeast Shorts, with 16.2 million subscribers. As of this year, the MrBeast team is made up of 30 people, including MrBeast himself. MrBeast’s businesses outside of YouTube include:
MrBeast Burger, a virtual restaurant launched in December 2020 that delivers to over 1,000 locations in the United States, Canada, and the United Kingdom. In September of this year, the brand opened its first physical restaurant. Feastables, a food business focused on snacks, launched in January 2022. Within the first few months, the business earned over $10 million in revenue. Apparently, Feastables raised $5 million at a $50 million valuation from 776, Shrug Capital, and Sugar Capital.
Investors have begun focusing their attention on YouTube content creators recently. Moonbug Entertainment, the company behind the popular kids’ channel CoComelon, was purchased by Candle Media for $3 billion last year. Moreover, Night Media, the talent management company that manages MrBeast raised $100 million and also teamed up with The Chernin Group to form Night Capital to connect content creators with their fans so they can sell their products.
