Aileen Lee's 2013 unicorn dataset found an average of seven-plus years to a liquidity event among companies that had exited, excluding the roughly one-third that were still private.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 9: ARE UNICORNS REALLY WHITE? Valuation Gamification

"Aileen Lee’s 2013 unicorn dataset found an average of seven-plus years to a liquidity event among companies that had exited, excluding the roughly one-third that were still private."

Lee reports seven-plus years on average before a liquidity event, making this an exit-timing statistic rather than a measure of time required to attain unicorn valuation.

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Source title Welcome To The Unicorn Club: Learning From Billion-Dollar Startups

Source authors Aileen Lee

Source year 2013

Confidence high

Importance high