Boring Company stock isn't publicly traded, and was last valued at $5.7 billion on the private market

• The Boring Company is a private corporation, meaning you cannot buy stock nor easily invest in it.
• Very little is known about its bottom line as a result.
• The company digs tunnels designed for vehicle and train use.

The Boring Company was started by Elon Musk in 2016 following his mounting frustration with traffic congestion and the resulting long commutes for people in Los Angeles.

The company's main premise is to dig underground tunnels that can be used for passenger and commercial vehicle transportation — and eventually, Hyperloop trains.

In April 2022, The Boring Company completed Series C funding of $675 million, and at the time was valued at $5.675 billion, according to a Boring Company news release.

Given the company's private nature, little is known about its fundamentals. And it's therefore not easy to invest in the company, either.

Some firms allow people to invest in companies before their initial public offering should they go public. Still, there's no guarantee that the Boring Company will ever hold an IPO and offer its stock to a wider market.

Tesla CEO Elon Musk founded the Boring Company as a subsection of SpaceX in December 2016.

The company has gotten distracted at certain points, like selling millions of dollars worth of "Not-A-Flamethrower" flamethrowers within 24 hours. The name is a legal requirement to avoid customs restrictions.

In 2018, The Boring Company looked less like a moonshot and more like a viable venture, one Wall Street analyst said, and could have been worth $16 billion.

Alexander Haissl, an autos analyst at Berenberg, told clients that the City of Chicago's tapping of The Boring Company to build a high-speed link between downtown and O'Hare Airport solidified the venture as more than a pipe dream.

"Entirely dismissed as a sideshow hobby of Elon Musk, The Boring Company is proving itself capable of evolving into a viable and potentially exceptionally profitable infrastructure business," Haissl said in a note seen by Business Insider, adding that the deal "in a single step, provided the foundation and legitimacy that can turn The Boring Company into a highly valuable asset."

The project was later scrapped.

In December 2018, some SpaceX investors were concerned about Musk's other ventures, especially when their capital is deployed for his latest pet project, The Boring Company.

The Boring Company's first tunnel was constructed at SpaceX headquarters in Southern California.

SpaceX does own a 6% stake in The Boring Company, a spokesperson said, "calculated based on the value of land, time, and other resources contributed since creation of the company."

In 2019, The Boring Company raised outside funding for the first time. A Boring Company representative confirmed to Business Insider that the company raised around $120 million. 8VC, Vy Capital, Craft Ventures, Valor Capital, and Draper Fisher Jurvetson led the funding round, the representative said. A representative said Future Ventures, a venture-capital firm co-founded by Steve Jurvetson, also participated in the funding round.

To date, the completed projects of Boring Company include The Las Vegas Convention Center Loop system — a three-station transportation system consisting of 1.7 miles of tunnel, approximately $47M for the two tunnels and three stations, constructed in 2019.