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
KCMO reveals seven innovation partners and inaugural demo day
Mayor Sly James on Tuesday announced seven partners for the 2016 Innovation Partnership Program and the program’s new accelerator-like approach. Now in its second year, the IPP provides select startups with city data and infrastructure at no cost and the opportunity to develop, test and demonstrate innovative solutions for the city. For the first time, the…
With traction in tow, Super Dispatch is a model ‘lean startup’
Super Dispatch began like every tech startup: with a good idea. But as founder Bek Abdullayev will tell you, it takes more than that to be successful. In 2013, Abdullayev founded Super Dispatch, a software-as-a-service platform for the trucking industry intended to eliminate paperwork. Super Dispatch streamlines the communication of documents between truckers and their…
‘Makerspace in the ‘Hood’ wants to smother poverty and crime with creativity
Every successful entrepreneur is born with a seed of opportunity. It is impossible for one person to be successful on their own; whether you extend gratitude to your family for their support, your university for its resources, or the angel investor who believed in you when nobody else did. Now imagine you grew up in…
Pipeline Entrepreneurs accepting applicants for 2017 fellowship
Ahead of its first adventure abroad, Pipeline Entrepreneurs is accepting applications for its fellowship program that not only affords entrepreneurial education but also a network of powerful business leaders. The 2017 class will mark the organization’s 11th-annual program in which Pipeline accepts at least 10 entrepreneurs from the around the region to participate in a…