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At $40 Billion, Uber Would Eclipse Twitter and Hertz

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Uber Technologies Inc. investors are betting the five-year-old car-booking app is more valuable than Twitter Inc. and Hertz Global Holdings Inc.

The startup is close to raising a round of financing that would value it between $35 billion and $40 billion, according to people familiar with the situation, who asked not to be identified because the details are private. T. Rowe Price Group Inc. is in discussions to be a new investor and existing investor Fidelity Investments is also set to participate in the funding, the people said.