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
Events Preview: #Cowork4Good
There are a boatload of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious Kansas Citian, we recommend these upcoming events for you. WEEKLY EVENT PREVIEW The Foundation Series: Idea to App – Creating a Digital MVP When: November 10 @ 10:00am – 11:00am Where: Enterprise…
Digital Sandbox announces partnership with Pinsight Media
Digital Sandbox KC revealed Monday a new partnership that will offer application development to participating startups. The Kansas City-based incubator invests up to $25,000 in area startups and provides proof-of-concept resources for its cohorts. Now, its collaboration with mobile data company Pinsight Media+ will garner mobile development and application monetization opportunities for founders. “As a locally-grown…
Eyeing the American dream, BLITAB creates tablet for blind people
Editor’s note: This content is sponsored by LaunchKC but independently produced by Startland News. Kristina Tsvetanova is no stranger to obstacles. She’s spanned the globe and learned three different languages en route to developing first-of-its-kind technology that aims to connect blind people to media in ways that rivals science fiction. Touted as an “iPad” for…
Caffeine nation: 1 Million Cups hits the century mark
Dubbed as “the church for entrepreneurs,” 1 Million Cups recently hit a milestone with the reach of its programming. A product of the Ewing Marion Kauffman Foundation, 1 Million Cups has launched in Waco, Texas, marking the entrepreneurial forum’s 100th participating community. 1 Million Cups launched in Kansas City in 2012 and has been spreading…