Uber will soon be worth $40 billion.


Uber, the hugely popular and often controversial ridesharing service is close to securing funding that would push it’s value to anything between $35 billion to $40 billion. T. Rowe Price, the global investment firm, is said to be among the new investors.


The transportation company was valued at $18 billion in its last round just this summer. The company has been embroiled in controversy recently, after one of its executives suggested hiring investigators to dig up dirt on journalists.

An internal presentation from late 2013 shows that Uber is well on its way to making $1.5 to $2 billion in gross revenue this year. Revenues on New Year’s Eve grew more than 4 times between 2012 and 2013.