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
Pilot competition taps drugless mental health solution for latest tech-infused cohort
A Kansas City-connected startup that helps users see their feelings with its drugless biofeedback/neurofeedback technologies is among 10 companies selected for the latest pilot cohort from NXTUS in Wichita. Finalists for the 2025 NXTSTAGE Community Health & Vibrancy Pilot Competition were announced Wednesday, including Columbia, Missouri-based Healium, which offers tech-driven mental wellness products that quickly…
Café Corazón sold KC on her alfajores and empanadas; now meet the Argentine chef behind these legendary, handcrafted treats
In a space that serves as a crossroads of identities, trays of Silvia Miguel’s now-iconic savory and sweet dishes find a welcome home alongside bold pieces of art, sips of coffee and wares from a vibrant community of Latin and Indigenous entrepreneurs. Miel Castagna-Herrera, co-founder of Café Corazón, started carrying Miguel’s Pan Caliente products soon…
LISTEN: How this musician-turned-startup veteran is scaling with a Kansas assist
Startland News opens its new Plug and Play Topeka founder podcast series with a startup that’s making recovery easier — one pup at a time. Meet Medipups, a company combining canine compassion with real innovation in animal health, and its co-founder Sebastian Doyle. Recorded live at the Plug and Play Animal Health & AgTech Expo…
Kansas company beefs up natural qualities of meat, tallow with tech, not enhancements
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. [divide] WAKEENEY, Kan. — Plainview Beef is more than just a name for the western Kansas direct-to-consumer company, CEO Gabe Orr shared. It’s a nod to a mission rooted as much…