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
Techweek KC aims for significant growth in 2016
With aggressive goals in mind, Techweek Kansas City is ramping up excitement for its second-annual festival of innovation and entrepreneurship in the City of Fountains. The national tech conference and media firm hosted a countdown party Monday in downtown Kansas City in which Techweek CEO Amanda Signorelli said she hopes to top the festival’s inaugural…
Dignity and a dollar: The Grooming Project empowers KC mothers
Natasha Kirsch believes that a living wage does more than provide people with money. That’s why she founded Empowering the Parent to Empower the Child (EPEC), a non-profit that helps young mothers in poverty find higher-paying jobs and become self-reliant in the process. And to achieve that mission, Kirsch is kickstarting an effort that not…
LaunchKC snags hundreds of hungry applicants
The popular grants competition LaunchKC again was met with an enthusiastic response by applicants. The competition — which will distribute $500,000 via 10, $50,000 non-dilutive grants — drew more than 400 tech startup applicants for the second year in a row. A panel of judges are now combing through the applications to find the top…
Grant Gooding: Your wimpy brand needs to pick a fight
Editor’s note: The opinions expressed in this commentary are the author’s alone. Think about your three biggest competitors. … Got ‘em? Now, what do you say when a potential customer asks you why they should do business with you instead of them? More often than not your response contains subjective and ineffective language. You say…