00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Boring Company is asking some investors in its latest funding round to provide more than
00:07capital, according to the Wall Street Journal. Investors were reportedly asked to help recruit
00:11employees or introduce the company to government officials in cities where it hopes to build
00:16tunnel projects. The Boring Company is closing a funding round valuing it at about $20 billion,
00:22up from roughly $5.7 billion in 2022. According to a TechCrunch report, the company was seeking
00:29around $4 billion. The Boring Company reportedly reserved the right to repurchase some shares
00:34if investors fail to identify viable job candidates. Elon Musk appeared to confirm the report Thursday
00:40on X, writing, True. The company is pursuing expansion beyond its Las Vegas loop into markets
00:46including Nashville and Dubai. For all things money, visit Benzinga.com.
