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
Entrepreneur of the Year honorees stepped through a wormhole of fate: Here’s what they found in KC
The ultra successful all share one common influence, said Peter Mallouk: luck. And for the president and CEO of Creative Planning, good fortune has revolved around Kansas City. It all started when his parents left Egypt and ended up in Brookside, he told a crowd Wednesday evening during the 39th University of Missouri-Kansas City Entrepreneur…
How UMKC’s top student entrepreneur found shelter (and a path forward) as a founder
Shapree Marshall’s path began with shared struggle, re-routed to survival — and ultimately made a stop Wednesday evening at H&R Block’s World Headquarters where the startup founder was honored as UMKC’s 2025 Student Entrepreneur of the Year. “My journey into entrepreneurship did not begin with a business plan or a class project,” said Marshall, founder…
First look: Made in KC’s new Union Station shop boasts all the trimmings (and World Cup timing)
An influx of holiday shoppers is just the start for Made in KC’s newly-opened store inside Union Station — positioned to take advantage of coming FIFA World Cup traveler traffic — years after the local-first retailer’s owners first envisioned making the quintessential Kansas City destination a home for one of their shops. “We’ve been wanting…
KC Tech Council reboots its visual identity, teases plans to open new downtown HQ
It’ll be new year, new look for KC Tech Council as the regional tech advocate relocates to a collaborative headquarters space in downtown Kansas City, as well as embracing a bold brand update — all coded to better reflect a modern, tech-driven ecosystem. “As KCTC powers initiatives that further establish Kansas City as a premier,…