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
Open Doors: Here’s how KCMO plans to turn empty storefronts into a World Cup stage for local talent
Applications are now open for grants of up to $10,000 for businesses and artists who want to activate underutilized or vacant commercial spaces in the downtown area during the coming FIFA World Cup to showcase Kansas City’s entrepreneurial spirit. Funds awarded through the just-detailed Open Doors! Program — crafted through a partnership between the City…
He took over a house-trained side hustle; meow it’s time scale the gourmet catnip brand
Adam Larson might be severely allergic to cats, but he’s following his own advice — pawing away at a gourmet catnip side hustle and toying with the best market fit for the business (and his life). Larson — who also is a network convener for MOSourceLink, the founder Decimal Projects, and a former program coordinator at…
How Main Street Summit is putting homegrown small business on stage with Tim Tebow
COLUMBIA, Missouri — Small businesses don’t stay small on purpose, said Colby Kraus, echoing a mantra popular among organizers of the Main Street Summit — an immersive downtown experience rich with enough Americana capital for entrepreneurs and community builders from all walks of life. Approaching its third year, Main Street Summit is set to return Nov.…
ICYMI: MTC says it’s moving forward with select entrepreneur programs despite steep state funding cuts
Editor’s note: This story was originally published by Missouri Business Alert, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. [divide] The Missouri Technology Corp. has released its annual implementation plan, announcing which programs…