Uber is raising billions more at a valuation north of $60 billion. The New York Times reported the round in October, and Bloomberg followed up Thursday. But the most interesting thing about this financing is not the astronomical valuation; it’s how Uber has been pitching it.

In recent weeks, a number of folks who have been pitched by Uber as part of the round all told me the same thing. “The process is being run like an IPO,” two of the people independently said.

By that they mean, Uber CEO Travis Kalanick and other executives have been on a roadshow giving investors a two-hour management presentation—followed by Q&A—after they sign serious NDAs.