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
Duo creates app-based audio tour exploring KC’s history of segregation
Most Kansas Citians are uninformed on the area’s segregated past, Nathaniel Bozarth said. “To be quite honest, I’m convinced that this ignorance is by design,” said Bozarth, a Kansas City ethnographer and host of the Wide Ruled podcast. “White America does not want to deal with the sins of our fathers and our own sins…
KC suburb ranked among nation’s best cities for Hispanic entrepreneurs
Strong purchasing power for Hispanics in one Johnson County community helped land the suburb on a new ranking of the best cities for Hispanic entrepreneurs. Overland Park, Kansas, cracked the list’s overall top 25, according to WalletHub, a personal finance website that examined more than 180 cities across the United States. The survey pool included…
Fund Me, KC: East Aster Brewing hopes to heal Kansas City from the soil up
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 from Kansas City-based East Aster Brewing, which applies lessons from microbiology and microbrewing to gardening in…
Venture for America class comes ‘together like lightning’ for Friday job fair in KC
National fellowship program Venture for America is hoping to boost regional startups with an infusion of new talent. VFA, a two-year program for recent college graduates who want to learn how to build businesses, is planning one of its four regional job fairs Friday in Kansas City. The group — which launched in Kansas City…