Uber, the popular and controversial ride-hailing service, could be on its way to being the most valuable private startup on the planet. If a new round of financing goes through, the company's valuation could hit $50 billion.

At that mark, not only would Uber be worth more than its compatriots in Silicon Valley, but it'd be worth more than publicly traded behemoths like Nissan and FedEx, which are valued at $47 billion and $48 billion, respectively.

The New York Times reports that the estimated valuation could be tied to a new round of fundraising that would add $1.5 billion to the company's coffers. Uber has already raised $2.4 billion in two big fundraising pushes during the past year, splitting the money between a December round that saw it valued at $40 billion, up from June's $17-billion valuation.

Where both of those efforts were focused expanding the service into new markets, this latest round would be dedicated to long-term planning and partnerships, a source familiar with the situation told The Times.

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