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"A Reuters report says popular on-demand car service Uber is raising a new round of funding at a $1 billion valuation, but Uber CEO Travis Kalanick strongly denied the report. \n\"Uber has not raised funds or approached a single investor about raising funds since our Series B round in November 2011,\" Uber's CEO Travis Kalanick said in a statement provided to Mashable. \"Any reports to the contrary are just completely untrue.\u201D\nThe San Francisco-based startup previously raised a $37 million Series B round in late 2011 from Amazon founder Jeff Bezos, Menlo Ventures and Goldman Sachs. It raised an $11 million round earlier that same year. Reuters did not provide any details about the funding amount or who might be participating in the round.\nUber operates in more than a dozen cities in the U.S. and abroad, and works with thousands of drivers. It recently won approval to operate with New York City's taxis. The company had 170 employees as of earlier this year. Kalanick (pictured) told The Wall Street Journal that the plan was to ramp up that number to 800-900 by the end of 2013.\nIf Uber is indeed valued at $1 billion, it will join other prominent tech startups like Square, Fab, Pinterest and Airbnb.  \nUPDATE: Reuters released a follow-up story about Uber Tuesday night after coming under criticism for its original report earlier in the day. The new article claims that an investor in Uber \"reached out to a venture capital firm about a potential new funding round that could value the company at $1 billion or more.\"\nImage via Getty, Kevork Djansezian"^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2013/04/30/uber-billion-dollar-valuation/>