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
Lean Lab rebrands to reflect its evolution within education innovation
The Lean Lab has announced a rebranding effort to better reflect and differentiate it from other groups in education innovation, said co-founder Katie Boody. Unveiling a new look in late April, the Kansas City-based organization is now LEANLAB Education, which Boody hopes will better communicate its mission, she said. “We know the nature of our…
H3 win at Regnier challenge puts Roy Scott $20K closer to his slice of $3B edtech market
The oversized novelty checks are piling up at H3 Enterprises’ headquarters in the Crossroads. Founder Roy Scott secured another $20,000 in prize money Friday, winning top honors in the Regnier Venture Creation Challenge. “We are continuing to grow and preparing to launch our new technology in schools across the country,” he said in social media…
Fund Me, KC: WISE IoT tech aims to lower energy bills, decrease carbon footprint
Editor’s note: Startland News is continuing its “Fund Me, KC” feature to highlight area entrepreneurial efforts to accelerate businesses or projects. If you or your startup is running a crowdfunding campaign, let us know by contacting news@startlandnews.com. Today’s featured campaign is from Kansas City-based Wise Power Inc. Who are you? My name is Kevin Williams…
Wonder Shops and Flats set to bring Blip Roasters, Bike Walk KC, medical group to Troost
Wonder what’s in the works at 30th and Troost? This weekend’s Wanderfest provides the opportunity for a sneak peek at a long-awaited development in one of Kansas City’s in-progress revitalization corridors. The Wonder Shops and Flats serves as a key stop during Sunday’s festivities, which showcase maker and creative work in the Tower East neighborhood.…