Softbank invests $1 billion in satellite startup OneWeb, as part of plans to make $50 billion in investments and create 50,000 jobs in U.S.

Briefing

Softbank invests $1 billion in satellite startup OneWeb, as part of plans to make $50 billion in investments and create 50,000 jobs in U.S.

March 2, 2017

Briefing
  • $1 billion OneWeb Funding – Funded satellite startup OneWeb with $1 billion to develop low earth orbit (LEO) satellites and construct new Florida facility that will make 15 satellites per week
  • $50 billion Planned U.S. Investments – Announced that Softbank plans to invest $50 billion in U.S. after CEO Masayoshi Son met with Donald Trump
  • 50,000 New U.S. Jobs – Promised to create 50,000 new jobs in U.S., starting with 3,000 jobs in engineering, manufacturing and support as part of Softbank’s investment in OneWeb
  • OneWeb’s Satellite Network – Extends existing mobile and Internet networks to connect new areas without coverage for lower costs

Accelerator
Networks and Connectivity, Space Commercialization

Sector
Information Technology

Organization
Softbank Corp.

Source

Original Publication Date
December 19, 2016

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