38. Sawyer Gray is studying towards a Business BS, Economics degree from Emory University: Goizueta (US) and currently working as Quantitative Finance Analyst Intern for Duff & Phelps.

Sawyer is a part of the reseach team that prepares firm and industry analyses and financial reporting, originates and executes strategic Business initiatives, while working closely with and supporting senior management while preparing business forecasts including coordinating the collection, analysis, and delivery of the forecast data Aid in the preparation of PE strategic plans and budgets Draft presentations.

Sawyer Gray is preparing for a presentation about the venture capital in front of several institutional investors reps who are interested in investing in start-up firms. After reseaching several databases, Sawyer found the following venture capital news.

According to the article, Kathleen Smith, a co-founder at Renaissance Capital, thinks that unicorn companies have been good overall for investors.

Can explain what a unicorn is to Sawyer?

IPO Stocks Of Unicorn Company Giants Bring No Guarantees, Deagon, Brian. Investor's Business Daily; Los Angeles [Los Angeles]17 May 2019.

May 15, 2019, price vs. first-day close among unicorns with IPO stocks in 2018-19: Sources: Renaissance Capital, IBD IPO Stocks: Investments 'Good Overall'

"Investments in unicorn companies have been good overall for investors," said Kathleen Smith, a co-founder at Renaissance Capital. It manages two exchange traded funds that focus on IPOs. Its main Renaissance IPO ETF is up about 30% this year.

But companies like Uber and Lyft have been troubling, in that analysts and investors are finding it difficult to figure out what value to place on them, she says. Uber had a valuation of $83 billion when it came public. But during the summer of 2018, some investment bankers suggested Uber might be worth $120 billion.

Options:

The unicorns are private companies that are unique in their products.

The unicorns are private companies with growth rates exceeding 50%.

The unicorns are private companies worth less than $1 billion.

The unicorns are private companies worth more than $1 billion.