Musk's Boring Company shares rise over 22% in employee share sale
The Boring Company also told shareholders that investors could buy up to $20 million in secondary shares as part of the recent share sales, one of the people told The Information. This gives the Austin, Texas-based startup an implied valuation of over $7 billion, the report added, up from its $5.675 billion valuation after a Series C funding round led by Vy Capital and Sequoia Capital last year. The Boring Company did not immediately respond to a Reuters request for comment.