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
Former Walmart exec, VC founder who was second attorney for Google joining Kauffman trustees
Editor’s note: Startland News, in its capacity as a nonprofit digital magazine, is financially supported by the Ewing Marion Kauffman Foundation. Two high-powered women are expected to bring diverse business, investment and education backgrounds to the table of one of Kansas City’s leading entrepreneurship engines. Susan Chambers, a five-time “50 Most Powerful Women in Business”…
With 400 teams and counting, coaches and founders agree: Just Play Solutions is a ‘no-brainer’
One of Kansas City’s fastest-growing sports-fitness startups, Just Play Solutions, posted a 225-percent revenue increase headed into 2018, its co-founder said. “That type of growth just doesn’t happen all the time,” said Austin Barone. Just Play’s mobile and web app platform specializes in workflow management for football, basketball and — most recently — lacrosse coaches.…
Video: Rightfully Sewn threads ‘United Nations of Sewing’ concept into fabric of Crossroads
A new studio space in the heart of Kansas City’s creative community will thread the needle for expanding capacity for Rightfully Sewn to help diverse, at-risk women, as well as support its nonprofit mission, said Jennifer Lapka. The program, which trains women to be seamstresses for local designers through a two-year experience, is set to…
Clockwork founder Christian Arnold: When to explore new workspace for your startup
Editor’s note: The opinions expressed in this commentary are the author’s alone. If your startup is ready to graduate from your home office and the local coffee shop, you have a lot of considerations for that perfect workspace. Yes, real estate is typically the second highest business cost, but the right space has the power…