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

Uber is raising another $1 billion in new venture-capital financing in a deal that would value the
car-hailing startup at between $60 billion 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 going public.
Those remarks came after Bill Gurley, superstar venture investor and Uber board member, 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.