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
Lawrence-based Ainstein taking flight with jetpack founder in Red Bull Air Race
When the founder of JetPack Aviation blasts to the sky later this month in Red Bull’s Air Race World Championship, it will be a testament to the innovation and quality at Ainstein, a Kansas radar tech firm, said Bryan C. Boots. “Although our products are widely deployed today in unmanned aviation (drone) applications, this will…
CreativeMornings KC relaunches with art culture, business community in focus
Artists are George Brooks’ people, the Crema co-founder and a co-host of the newly relaunched CreativeMornings KC guild said. “I love that CreativeMornings fosters the idea that we can all view our work, hobbies, and life through lenses of creativity,” Brooks said. “By bringing together a community of people who value creativity, it bridges the…
Advancing women as important now as ever, says STEMMy Awards leader
Women leave tech-intensive industries at a higher rate than their male counterparts because of a lack of encouragement and support, said Renee Keffer, citing a 2014 report by Catalyst. The fifth annual STEMMy Awards Gala aims to change that narrative in Kansas City, Keffer, co-chair of the event, said, but organizers need help: Nominations remain…
Kauffman Foundation’s Philip Gaskin sees entrepreneur ecosystems in the humble snowflake
Editor’s note: This content was sponsored by the Ewing Marion Kauffman Foundation but independently produced by Startland News. When it comes to developing a startup, there’s no better training ground than a political campaign, Philip Gaskin said. “You’re building movements of people to do extraordinary things,” said Gaskin, director of entrepreneurial communities and chief of…