YouTube star MrBeast looks to raise funds for his business, valuing it at $5 billion: Report
These businesses include the chocolates brand Feastables, snack company Lunchly and his video production company.
YouTuber MrBeast, well known for his videos of large-scale challenges and giveaways that generate hundreds of millions of views, is looking to raise a couple hundred million dollars to expand his business.
This funding round would end up valuing his business at about $5 billion, according to a Bloomberg report which cited unnamed people familiar with the matter.
HT.com has not independently verified the authenticity of this information.
However, talks on the matter are still at early stages and the content creator named Jimmy Donaldson has so far spoken with several financial firms and wealthy individuals about investing.
Donaldson's main purpose of raising money is to fund a holding company which owns all of or parts of his business.
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These businesses include the chocolates brand Feastables, snack company Lunchly and his video production company.
{{/usCountry}}These businesses include the chocolates brand Feastables, snack company Lunchly and his video production company.
{{/usCountry}}They are profitable overall and have generated over $400 million in sales last year, according to the report.
{{/usCountry}}They are profitable overall and have generated over $400 million in sales last year, according to the report.
{{/usCountry}}Donaldson is now looking to expand both his packaged goods and media businesses.
{{/usCountry}}Donaldson is now looking to expand both his packaged goods and media businesses.
{{/usCountry}}Also Read: EU may not offer concessions to India for CBAM and Deforestation Regulation: Report
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{{/usCountry}}MrBeast has raised money in the past, such as from the New York-based investment firm Alpha Wave Global. He is the world's richest YouTuber, according to Forbes.
{{/usCountry}}MrBeast has raised money in the past, such as from the New York-based investment firm Alpha Wave Global. He is the world's richest YouTuber, according to Forbes.
{{/usCountry}}He has also created and starred in a show for Amazon.com Inc.’s Prime Video, for which Amazon spent $100 million to produce the first season. The company has claimed it was its most-watched unscripted series ever.
{{/usCountry}}He has also created and starred in a show for Amazon.com Inc.’s Prime Video, for which Amazon spent $100 million to produce the first season. The company has claimed it was its most-watched unscripted series ever.
{{/usCountry}}While Amazon has agreed to make more seasons of the show, it is still working out the budget, according to the report which added that the original deal was for Amazon to spend over $250 million across two additional seasons.
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