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
Porch Light Plans hopes to bring durable, affordable home design to the masses
Modern homes should be durable and well-designed enough to last hundreds of years, said Katie Hoke. Lawrence-based Porch Light Plans combines sleek aesthetics with thicker insulation and fewer windows to achieve a contemporary housing option with the potential to slash utility bills in half, said Hoke co-founder of the boutique architectural design firm. “If every…
WYCO sunglasses customizes KC cool for a brightly-colored nationwide vision
Kasey Skala frames WYCO as a Kansas City brand ready to look beyond county or state boundaries, he said. “I think it’s great that we started here in the Midwest. We’re proud of being a Midwest brand, growing it here and taking [advantage of] what Kansas City has to offer,” said Skala, WYCO chief marketing…
Now in new Crossroads space, Rightfully Sewn prepares to welcome male sewists (Photos)
The secret to any startup venture is to move forward one stitch at a time, said Rightfully Sewn founder Jennifer Lapka. “Start small, struggle, have success, then scale,” she said, quoting one of her many mentors. Freshly moved into a 2,200-square-foot atelier, or design studio, at 1800 Wyandotte St. in the Crossroads, Rightfully Sewn is…
CommunityAmerica teen-led innovation effort lauded for developing college cost calculator
College degrees come with two price tags: the sticker price and the net price. A new free tool from the CommunityAmerica teen advisory board is being celebrated for helping students solve the complicated equation that separates the two — as well as determine which college options are financially realistic. “[With] some of the more elite schools,…