Elon Musk's brain implant startup Neuralink, which was valued at close to $2 billion in a private fundraising round two years ago, is now worth around $5 billion based on privately executed stock trades described to Reuters by five sources with knowledge of the matter.
The stock transactions at a valuation of around $5 billion have been carried out by shareholders such as employees and the company's early backers, rather than Neuralink selling new shares to investors. Such so-called secondary trades are an imperfect gauge of a company's value; their volume is thin and they lack the wider market consensus of a fundraising round or initial public offering .
In Neuralink's last known fundraising in 2021, it raised $205 million at an approximately $2 billion valuation, according to data provider Pitchbook. Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been "tremendous." He pegged the valuation that buyers are willing to pay at around $4.5 billion.
Source: News Formal (newsformal.com)
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