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
Video: How to write a great elevator pitch for investors and your team
Editor’s note: Continuing our mission to help area entrepreneurs and startups grow, we’re happy to share with you a video from our friends at Kansas City-based tech agency Crema. Learn more about the agency here. Crema co-founder George Brooks and Crema product strategist Eric Hurst jump into the topic of crafting an eloquent and effective…
Fast-growing Silicon Valley ‘unicorn’ Rubrik expanding to Lawrence
Rubrik — a rapidly-growing, cloud data company based in Palo Alto, Calif. — is launching a new office in Lawrence and plans to hire up to 20 area engineers. The firm partnered with the Bioscience & Technology Business Center at the University of Kansas to create the Rubrik Center for Excellence. The center will house…
Events Preview: Tech CEO Speaker Series, Livestreaming strategy
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…
Firebrand Ventures makes 4 investments in Midwest startups
Kansas City-based Firebrand Ventures is kicking off the summer with a series of startup investments. Led by managing director John Fein, Firebrand has signed a quartet of new deals supporting two pairs of tech startups in both Boulder and Austin. “We’re just incredibly excited to invest in these companies,” Fein said. “We think they’re the…