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
Report: Missouri is a top 10 state to launch a business
A recent study dubbed Missouri as one of the top 10 states to start a business. The report was assembled by personal finance website WalletHub and aimed to determine which region held the most fertile grounds for launching an enterprise. Evaluating all 50 states’ business environments, access to resources and business costs, the report ranked…
The clock is ticking: LaunchKC grants’ deadline is Friday
Startups in Kansas City and beyond have about 48 hours to apply for LaunchKC grants. The contest — which will allocate $500,000 via nine grants to startups from around the nation — will accept applications until 11:59 p.m., July 7. LaunchKC will dish out eight $50,000 grants and one $100,000 grand prize. The final round…
Events Preview: First Wednesdays, diversity and inclusion
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Feel free to add it to the FWD/KC calendar for increased exposure. Once your event…
KCultivator Q&A: Arts champion and fiery uke player Erin McGrane talks Victor & Penny, prejudices, spreadsheets
Editor’s note: KCultivators is a new, lighthearted profile series we’re kicking off to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. Check out our features on SEED Law’s Adrienne Haynes, Code Koalas’ Robert Manigold, Prep-KC CEO Susan Wally and community builder Donald Carter. You’re most likely familiar with Erin McGrane when a ukulele accompanies…