Home Business SoftBank (SFTBY) Starts $100M Startup Fund For Minorities

SoftBank (SFTBY) Starts $100M Startup Fund For Minorities

Softbank Group Corp. (SFTBY) declared it has decided to start a $100 million (£80m) startup fund for the entrepreneurs of color. SoftBank is the latest company step forward to speak about racial inequality.

Other major firms’ executives including Bank of America, General Motors, and Twitter already responded to the protests over George Floyd’s death.

SoftBank’s COO Marcelo Claure declared that the firm has started the ‘ Opportunity Growth Fund’. It will only invest in the firms led by the entrepreneurs who faced difficulties in building and scaling their business.

Shares of SoftBank Corp. plummeted -1.29% at $23.73 during the last trading session of Wednesday. Japanese firms had a trading volume of roughly 464,955 as contrasted to the average volume of 1,316,460.

It has a day low and day high range of 23.22-23.90, respectively. SoftBank has a total market capitalization of 95.833 billion.

CEO and founder of SoftBank Masayoshi Son took to Twitter and wrote: “Racism is a lamentable thing”. He ended his post with hashtag #BlackLivesMatter.

Twitter’s Jack Dorsey has granted the $3 million donations to an anti-racism organization. Bank of America has disclosed that it has donated the 1 billion over the next four years to small businesses.

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