Elon Musk Says Come Work At Boring Company As It Fetches $5.7B Valuation In Fresh Funding Round

Fresh off his earnings call exploits, Tesla, Inc. TSLA CEO Elon Musk canvassed for jobs at the Boring Company.

What Happened: Musk sent out a plea for people to join his boring company, substantiating his recommendation by suggesting the company's business has huge potential.

"Our goal is to solve traffic, which plagues every major city on earth," Musk tweeted, quoting an earlier tweet by Boring Company that said it has raised $675 million at a $5.67 billion valuation from A-list investors, led by Vy Capital and Sequoia Capital.

The company said the proceeds would go toward recruiting people, scaling up boring machine production and building thousands of miles of tunnels.

Why It's Important: Founded by Musk in 2016, Texas-based Boring Company functions with the mission of solving traffic, enabling rapid point-to-point transportation, and beautifying cities.

The company expects to achieve this through the construction of loops and hyperloops. Boring company has a tunnel system at the Las Vegas Convention Center and it was used to transport passengers at the CES conference earlier this year. Other projects in the pipeline include Resorts World Connectors, which is expected to commence operation in the second quarter, and the Vegas Loop.

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Photo: Courtesy of Steve Juventus via Flickr