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Source: The Verge
Summary
Beast Industries, a company founded by YouTube personality MrBeast, is acquiring Step, a banking app focused on teenagers. The financial terms of the deal were not disclosed. According to reports, Step’s users will now have access to MrBeast’s financial products and services.
Our Reading
The announcement sounds ambitious.
MrBeast’s company is buying a banking app, because who doesn’t need another financial product to clutter their phone? Step’s users will now have access to MrBeast’s financial products, because apparently, his YouTube videos weren’t enough of a distraction.
This is just another example of a “new” financial product rebranding the same old ideas. We’ve seen this before, and we’ll see it again.
Original Observation: This is just a rebranding of the same old banking app, but with a YouTube personality’s name slapped on it.
