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
More than 17K people expected for the biggest KC Maker Faire yet
For children, hardly a day goes by without the experience of arts, crafts, show and tell, building blocks or tinkering with toys. But in Kansas City, that young-at-heart spirit of creativity doesn’t have to be forgotten. In fact, it’s rekindled each year in a public outpouring at Union Station. On June 24 and 25, thousands…
Meet the five area startups partnering with KCMO to drive innovation
A quintet of startup firms are working with the City of Kansas City, Mo. as part of its Innovation Partnership Program. Launched in 2015, IPP pairs area startups with city departments to not only identify new efficiencies but also offer the firm a chance to earn business with the city. After being designated a department…
KC entrepreneurial leader Wullschleger becomes new WeWork director
Before its doors even open, WeWork is making significant inroads to the area entrepreneur community. The international coworking giant — which announced plans to create a 40,000-square-foot space in Kansas City in March — has hired Erik Wullschleger to become its community director. Most recently the director of LiveKC and previously general manager of the…
Wide Ruled: The future of Kansas schools with education commissioner Randy Watson
Editor’s note: In partnership with the Wide Ruled podcast hosted by Brainroot Light and Sound, Startland News hopes to offer its audience more avenues to learn about innovators in Kansas City. Opinions expressed in this commentary are the author’s alone. Wide Ruled is a Kansas City-based podcast focused on equality in education. Each episode showcases a…