Uber is raising yet another $1 billion and could soon be worth $70 billion


Travis Kalanick

REUTERS/Robert Galbraith

Uber CEO Travis Kalanick

Uber is raising another $1 billion in new venture capital financing in a deal that would value the car-hailing startup at between $60 and $70 billion, the New York Times reports.


This round would come just three months after Uber raised $1 billion for its China branch. It would also be Uber's eighth round in five years.

Earlier this week, Uber CEO Travis Kalanick said that the company was "nowhere near" going public.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.Watch on Demand
Our Speakers
Girish Mathrubootham
Brian E. Taptich

Those remarks came after superstar venture investor and Uber board member Bill Gurley warned startups not to stay private for too long.

Uber is already said to be valued at more than $50 billion, making it higher than Facebook's valuation at its last private round in 2011.


Uber did not respond to a request for comment at post time.

NOW WATCH: We tried the 'Uber-killer' that offers flat fares and no surge pricing