Sprint parent company to invest $50B in U.S. startups
December 7, 2016 | Bobby Burch
The billionaire behind Sprint’s parent company plans to unload some serious investment capital in American startups.
After a meeting with President-elect Donald Trump, SoftBank CEO Masayoshi Son announced that he plans to invest $50 billion in U.S. startups that will create tens of thousands of jobs in the next four years, according to the Associated Press. SoftBank purchased a majority of Overland Park-based Sprint in 2013 for $22 billion.
“We are going to invest $50 billion in the U.S. and commit to create 50,000 new jobs,” Son said. “We (will) invest into the new startup companies in the United States.”
While Trump appeared to take credit for the announcement, the prospective capital derives from a previously announced $100 billion fund. SoftBank in October announced that it partnered with a Saudi Arabian wealth fund to launch a $100 billion tech fund. The Wall Street Journal reports that SoftBank has poured more than $45 billion into tech investments alongside co-investors over the past two years. SoftBank owns more than 235 companies and more than 100 affiliates.
Son’s meeting with Trump sets the stage for what could be another attempt by SoftBank to acquire T-Mobile and merge it with Sprint. U.S. regulators thwarted that attempt in 2015, however, a Trump administration may be more open to the idea.
2016 Startups to Watch
stats here
Related Posts on Startland News
Spanish-language business law class targets KC resource gap
¡Llamando a todos los emprendedores! Language isn’t a barrier to entrepreneurial spirit, Adrienne Haynes said, and it shouldn’t prevent Kansas Citians from finding business success just because they don’t understand the nuances of startup lingo or legal processes. “Whether you’re a black- or brown-owned company, whether you’re woman-owned, whether Spanish is your primary language, or…
Tech startup TVWIZZ puts channel choice in consumers’ hands
You’ve heard it before: Millennials are killing the cable TV industry. With millions of young people “cord cutting” in lieu of streaming services like Netflix and Hulu, traditional cable viewership has dropped by more than 40 percent, according to Nielson. For many, it comes down to price, said Michael Hockey, founder of TVWIZZ, a free,…
KCultivator Q&A: Diana Kander on Pitbull, honey badgers, stand-up material
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. Check out our features on Victor & Penny’s Erin McGrane, SEED Law’s Adrienne Haynes, Code Koalas’ Robert Manigold, Prep-KC CEO Susan Wally and community builder Donald Carter. Early in her career as an innovation coach, Diana…
Startup transforms students into teachers for educators’ diversity training
Conversations about race, power, privilege and oppression are being had across the country every day. And Kiara Butler believes there is no better group to lead these discussions than young people, she said. “Students are already having these conversations every day,” said Butler, co-founder and CEO of Diversity Talks. “It’s the adults that don’t necessarily…