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
From the pitch to the Plaza: KC Current flipping the switch on new retail shop in iconic shopping district
Add team gear to the holiday shopping list this weekend. The Kansas City Current is kicking off a new permanent retail shop on the Country Club Plaza — just in time for the 2025 Plaza Lighting Ceremony. The Current Shop is set to open Wednesday, Nov. 26, in the former Starbucks building at 302 Nichols…
Kauffman wraps three fast-paced rounds of capacity building: Meet the year’s final grantees
A revised strategy to help nonprofit organizations strengthen their internal effectiveness and long-term stability — while still aligning with the Kauffman Foundation’s focus areas — next must showcase outcomes, said Allison Greenwood Bajracharya, announcing a final round of capacity building grant winners for 2025. Built with intentional versatility, capacity building grants are meant to meet…
Five stocking stuffer gift ideas that brew support for women-owned KC businesses
Editor’s note: The following holiday feature is presented by nbkc bank, where small businesses find big support Shopping with intention this season is just one way Kansas City gift-givers can squeeze local impact into each nook and cranny of those holiday stockings, said Melissa Eggleston, highlighting a sleigh-ful of women-owned businesses shoppers should bank on…
Their brands survived legal bruises; here’s what still keeps these founders up at night
A brand worth building is worth safeguarding, said Bo Nelson, joining a chorus of battle-tested entrepreneurs at GEWKC who encouraged emerging business owners to trademark their own peace of mind early by locking down intellectual property — like designs, names and unique processes — from the start. “If you do have something that you genuinely,…