Vroom’s new IPO pricing is great news for unicorns

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Last week we noted that the IPO window was open, a seemingly incongruous reality when compared to stark unemployment figures in the country and what they would seem to bode for business health. But as the markets rise to near-record highs, it has become clear that investors are open to buying new, growth-oriented shares.

Our concluding point last week was simple: the open IPO window and its implied investor sentiment was good news for unicorns. The richly-valued, private companies