Investing.com-- YouTube sensation MrBeast is looking to raise a couple hundred million dollars in funding to expand his business empire, targeting a valuation of about $5 billion, Bloomberg reported on Thursday citing sources familiar with the matter.
Jimmy Donaldson, known as MrBeast, has engaged with financial firms and wealthy investors, though discussions remain in the early stages, and it is unclear who will participate, the Bloomberg report stated.
The planned funding round aims to support a holding company that oversees Donaldson’s ventures, including his chocolate brand Feastables, snack company Lunchly, and video production firm. The business is profitable and generated over $400 million in revenue last year, the report said.
Donaldson, the most-followed creator on Google's (NASDAQ:GOOGL) YouTube, is known for large-scale challenge videos and giveaways. He has also expanded into television, producing Beast Games for Amazon's (NASDAQ:AMZN) Prime Video.
Donaldson has previously raised funds, including from Alpha Wave Global, and was recently linked to a bid for TikTok, the report added.