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
New five-year government grant, matching funds will help KCSourceLink fill gaps, build inclusivity
The payoff from a new five-year grant to KCSourceLink will most immediately be seen in a refreshed website with a more streamlined user experience for doers, makers, creators and entrepreneurs searching for help in taking the next — or first — step in building a business. “Our goal is to strengthen the fundamental building blocks of a…
Toby Rush on emerging blockchain: Layers of trust slowly building behind the scenes
Much like companies’ web pages in the mid-1990s, blockchain isn’t yet consumer-ready, said Toby Rush. “But [development is] going to move at an accelerated pace,” said Rush, CEO of Zoloz and senior director of international technology investments at Ant Financial. “We’re over 20 years later from ’96, and I think you’ll see [blockchain] move and…
Eyeing jobs potential, KC Tech Council celebrates MO governor’s signing of STEM education bill
Support for STEM and the Missouri tech space is uploading in Jefferson City, Ryan Weber said in light of successful legislation that will reformat the way high school students benefit from technology courses. A bill increasing access to computer science courses — which gained a second life during a special session in September after previously…
Lula partners with Platinum Realty to help home buyers, sellers find quality contractors
New homeowners — and even those selling — need contractors, said Bo Lais. It’s a reality understood by Platinum Realty, a new partner for home services tech startup Lula. “Lula is really excited about assisting Platinum Realty agents throughout that process because new home owners are constantly asking their real estate agents who they should…