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

Uber is raising another $US1 billion in new venture capital financing in a deal that would value the car-hailing startup at between $US60 and $US70 billion, the New York Times reports.

This round would come just three months after Uber raised $US1 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.

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 $US50 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.

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