YouTube star Jimmy ‘MrBeast’ Donaldson has co-founded a new company that aims to fund up-and-coming creators with the cash necessary to achieve their dreams.
MrBeast is one of the most popular creators on YouTube. Known for his over-the-top challenges and huge cash giveaways, he’s accrued over 55 million loyal subscribers — but he’s not shying away from sharing his success with others.
While Donaldson has given his shine to many other YouTubers in the past — even helping in the rise of Minecraft creator Karl Jacobs (not to mention his 100 million sub campaign for PewDiePie) — he’s now extending a helping hand in another huge way.
On Marc 24, MrBeast revealed that he has co-invested in Juice Funds, a project of his new company Creative Juice, which exists to help content creators get the monetary resources they need to make their videos.
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Thus far, MrBeast has invested $2 million in the project, which will include payouts anywhere from $25,000 to $250,000 to “qualifying and inspiring YouTube creators.”
Creative Juice aims to evaluate and buy minority stakes in YouTube channels, while also mentoring up-and-coming creators.
Donaldson himself claimed that his idea for starting Creative Juice was due to receiving delayed payouts from brands in the past, which would sometimes prompt him to take out loans to start on his next project.
5) The first product is Juice Funds, which lets creators invest in other creators.
— Rex Woodbury (@rex_woodbury) March 24, 2021
“I’ve always reinvested 100% of what I made off my channel,” he stated in an interview with The Information’s Sam Lessin. “One thing that I kept running into, though, is that there’s a lot of delays [in getting paid]. Sometimes brands take like five months to pay you.”
As for his current venture, MrBeast isn’t 100% certain how “valuing” YouTube channels is going to pan out — but he certainly wants to help new creators, and he’s putting his own money down to do so.
“That’s honestly just gonna be trial and error,” he stated. “I’m not trying to screw anyone over. I want to make deals that are fair for both sides. Genuinely, I just want to help people out.”