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
Listen: KC immigrant entrepreneurs share their stories
In light of recent news, Startland News focused this month’s Innovation Exchange on the intersection of immigration and entrepreneurship. U.S. immigration policy has a profound impact not only on society but also the nation’s entrepreneurial vibrancy, which prompted a discussion including a researcher and policy expert, a local immigration attorney and pair of immigrant entrepreneurs.…
KC cartoonist captures conversation on immigration and entrepreneurship
Tucked amid a crowd of about 80 people at Think Big Partners Tuesday, Kansas City artist Jasur Rakhimov swiftly sketched a conversation unfolding before him on immigration and entrepreneurship. A cartoon-style artist, Rakhimov stopped by Startland News’ fifth Innovation Exchange that focused on immigration and entrepreneurship to not only share his talents but also to…
MusicSpoke changes the tune of the sheet music industry
No matter your level of musical expertise, it’s no doubt you’ve touched a piece of sheet music — whether at church, in school or just for fun. “Music touches everybody’s lives,” said Jennifer Rosenblatt, co-founder of MusicSpoke. “If you didn’t grow up singing or playing an instrument, you have children who did or nieces and nephews. You…
Events Preview: LaunchCode, KC Saas
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. Innovation Exchange When: Feb. 21, 4:30 p.m. – 6:00 p.m. Where: Think Big Coworking Rarely are all the facts of breaking news included…