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
Tariffs are driving up costs for American coffee roasters: ‘We’ve never seen anything like this’
Editor’s note: The following story was published by Harvest Public Media and KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. Coffee has gotten a lot more expensive in the U.S. as tariffs seep into the price tag;…
‘I absolutely refuse to fail’: Sweet Peaches founder battles for national spot in frozen dessert aisles
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. Denisha Jones is poised to turn America’s devotion to apple pie on its…
Kiva KC brings zero-interest microloans to founders shut out of traditional capital
Editor’s note: The Economic Development Corporation of Kansas City (EDCKC) and KC BizCare are partners of Startland News. Kansas City is betting that a global microlending model — one built on $25 contributions and community belief in everyday entrepreneurs — can help close one of the city’s most stubborn gaps: early-stage capital for founders who…
How this startup (and a KC sports icon) turned young players into card-carrying legends overnight
An Overland Park-based custom trading card company and a Kansas City soccer star are teaming up on the pitch with a goal to make youth sports fun again. Stat Legend — launched by Chris Cheatham and Nick Weaver in 2023 — created custom cards for all 250 players who suit up for the Captains Soccer…