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
Development leaders laud HQ expansion for organization that opens workforce to Kansas Citians with autism
A new multimillion-dollar, 80,000-square-foot headquarters along Kansas City’s Brush Creek marks a major milestone for Behavioral Health Allies, strengthening the organization’s workforce training efforts and its belief in the potential for individuals with developmental disabilities and autism spectrum disorders, officials said Wednesday. “This expansion is exactly the kind of investment Kansas City needs,” said Tracey…
LaunchKC opens grants competition with nationwide search; eying companies to call KC home
A popular grants competition that offers early stage tech companies the opportunity to win $60,000 in non-dilutive grants, downtown Kansas City office space, and access to scaling resources is back for 2025 — emphasizing startups with high-growth potential and equitable business practices. LaunchKC’s signature Liftoff grants competition opened applications Thursday, kicking off a nationwide search…
MOSourceLink adds startup founder as new ‘Network Convener’ to rally ESOs, entrepreneurs
A newly-created role is expected to help strengthen connections between entrepreneur support organizations across the state and promote the wealth of resources available to Missouri’s entrepreneurs. Adam Larson — founder of Decimal Projects, CEO of Catnip Budz Gourmet Catnip, and former program coordinator at Regnier Institute for Entrepreneurship and Innovation at UMKC — moves to…
Mental reps and truth bombs: How this AI ‘coach-in-your-pocket’ strength trains minds before life’s hardest workouts
Building mental resilience should feel as natural as going to the gym, said Craig Mason, noting his new venture flexes a “performance psychologist, coach in your pocket, 24/7.” The emphasis: training the mind before crises hit. “Myndset is really designed to be a mental strength training platform,” said Mason, founder of the Kansas City-based startup.…