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Uber seeks to raise $1B

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Ride-hailing company Uber is seeking to raise $1 billion in funding, according to a report from PrivCo, a data provider on privately-held companies.

The new round of funding would value the company between $60 billion and $70 billion.

The most valuable privately held company was worth $18.2 billion in summer 2014.

Read more from CNNMoney.

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