MrBeast has leveraged his business beyond just social media... and now he's looking to raise a $1.5 billion valuation for it.
👉Background: Jimmy Donaldson, or as he’s more commonly known MrBeast, is a content creator that started making videos on YouTube back in 2012. 10 years later, MrBeast has 109 million YouTube subscribers and is the fifth most subscribed channel on the platform.
👉 What happened: He does some pretty crazy stuff. He once gave away $1 million USD to the person who was the last to take their hand off wads of cash. He also gave away an $800k USD island.
👉 What else: But MrBeast has leveraged his business beyond just social media - he’s building a heap of lucrative consumer brands, like Mr Beast Burgers and choccy brand Feastables. And now, he's looking to raise $150m at a $1.5 billion valuation for MrBeast enterprises.
💡While revenue from eyeballs is good, revenue from products and services is a whole lot more profitable. Mr Beast is on record saying that he actually loses money on every video he makes.
💡 But these videos draw in anywhere from 2 million - 40 million views from a loyal army of young followers. So Mr Beast uses the crazy challenges and giveaways to capture attention and drive his followers towards his other products.
💡And it seems to work. Mr Beast burgers sold over 1 million burgers in its first 3 months and his first physical restaurant generated a crowd of 10,000 people in the first 10 minutes - so it's time to re-think poking this Beast.
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