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Private markets and pre-IPO investing

Private markets and pre-IPO investing: an online course in 20 short lessons with quizzes and a final certificate, on Unicorn Academy.

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Read the first lessons

  1. Public markets and private markets

    In a public market a company's shares are listed on a stock exchange. Anyone can buy or sell them every day, the price is visible to all and…

  2. What a unicorn company is

    A unicorn is a private company, meaning one that is not listed, valued at more than one billion dollars. The term was coined in venture capi…

  3. The life cycle of a startup

    A company financed by investors grows in stages called rounds. The first ones, seed and Series A, support a product that still has to prove …

Private markets and pre-IPO investing: 45 questions and answers ›

Course programme

Module 1 · The basics

  1. Public markets and private markets
  2. What a unicorn company is
  3. The life cycle of a startup
  4. Venture capital, private equity and pre-IPO
  5. Why companies stay private longer

Module 2 · How to get in

  1. Primary and secondary transactions
  2. Buying shares directly
  3. The SPV, the dedicated vehicle
  4. Funds and diversification
  5. Tender offers

Module 3 · Rules and valuation

  1. Transfer restrictions and the right of first refusal
  2. Share classes and liquidation preferences
  3. How a private company is valued
  4. Dilution
  5. Who can invest

Module 4 · Risks and exit

  1. Illiquidity and time horizon
  2. Costs
  3. Due diligence
  4. The IPO and the lock-up
  5. Recognising scams and investing prudently

The first lessons of every course are available right away, with no sign-up. The final lessons and the certificate are unlocked with an in-app purchase, for a single course or for all courses together. An Apple or Google account is optional and only used to restore your progress on another device.

Frequently asked questions

Can a beginner learn finance with an app?

Yes. The courses start from the basic concepts, explain every term when it first appears and end each lesson with three questions.

How long does a course take?

Each course has 20 lessons of a few minutes each: it can be completed in a few hours, at your own pace.

Which languages are the courses in?

Available in 16 languages: Italian, English, French, German, Spanish, Portuguese, Russian, Chinese, Japanese, Hindi, Korean, Turkish, Indonesian, Arabic, Vietnamese and Polish.

Are the courses financial advice?

Unicorn Academy is education: it does not provide financial advice or invite you to buy financial instruments. Investing involves the risk of losing your capital.

Unicorn Academy

Stocks, pre-IPO, forex, futures, options and crypto in short lessons.

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