How long does it take for a soonicorn to become a unicorn?

How Long Does It Take for a Soonicorn to Become a Unicorn?

Back in the early days of the startup boom, building a billion-dollar company was a longer grind. According to research by Serguei Netessine and Ilya Strebulaev, it used to take an average of about 6.5 years for a so-called “soonicorn” — a startup with the potential to reach unicorn status — to actually become a unicorn.

But times have changed. Over the past decade, that journey has accelerated dramatically. These days, the average time to reach a $1 billion valuation has shrunk to just 3.5 years. Faster access to capital, more mature venture ecosystems, and the rapid scalability of digital platforms have all played a role in this shift.

Interestingly, while companies are hitting unicorn status faster, many are choosing to stay private longer. Instead of rushing to go public, top startups are leveraging private funding rounds to grow further under private ownership. This trend reflects a broader shift in how value is built and captured in tech — with companies like SpaceX, Stripe, and others delaying IPOs while expanding their global reach.

So, while the path from soonicorn to unicorn has gotten quicker, the next leap — from private darling to publicly traded giant — often takes a deliberate backseat. In today’s landscape, speed to valuation is matched by patience in going public.