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
Beyond language barriers: DivvyHQ partners with translation tech firm for greater global reach
A newly announced partnership provides DivvyHQ an expanded toolset to open the doors to a global market — translating and delivering any type of marketing-related content across any device, channel or language, said Brock Stechman. “We’ve been working so hard over the past few years to really build this company from the ground up,” said…
Techweek dedicating Oct. 10 afternoon programming to diversity in KC business culture
A first-time programming track dedicated to diversity and inclusion issues is an intentional effort by Techweek Kansas City organizers to open a needed conversation about true representation in the city’s business culture, said Drew Solomon. The mid-point of the Oct. 8-12 Techweek KC event series is expected to feature an afternoon of panel discussions and…
‘Millennial’ isn’t a curse word — it’s a critical marketing tool, says Social Apex Media
Social Apex Media is designed to feed the creativity of hungry millennial entrepreneurs who don’t fit into the corporate culture of many other marketing agencies, said Brandon Priest. “We’re building Social Apex on the backs of entrepreneurs. That means instead of employees who feel like, ‘OK, I just got to work 9 to 5 every…
ProfessionalChats founders on high growth: Don’t reinvent the wheel, just make it better
Entrepreneurship isn’t like Shark Tank, said the co-founders of rapidly expanding Kansas City startup ProfessionalChats. “I think people get confused in the Kansas City entrepreneurship community and they think they need to have an original idea that nobody’s ever done before and they need funding,” said Scott Hansen, co-founder, and CEO. Outside funding doesn’t necessarily…