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The ride-hailing company raised "close to" $1 billion in the new round of funding, sources tell the Journal.
The Journal reports that investors in the new round include Microsoft and Indian media company Bennett Coleman & Co.'s investment subsidy.
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And, as The Journal reports, Uber's newfound $50 billion valuation means that Facebook is no longer the only company to have a valuation of that level before going public.
The new round could help Uber continue to expand in markets outside the US including India, its second-largest market.