> Back then, when they were the age 10gen/MongoDB is now, nobody valued those companies at (the appropriately adjusted equivalent of) 1.2 billion, because there was no clue they would be the winners.
Actually, MongoDB (formerly 10gen) is 6 years old. After 6 years, Salesforce's market cap was around $3 billion. (They IPO'd after 5 years.)
A market cap after n years is something different from a valuation derived from venture capital raised in prior years. Such a difference is precisely what makes for a good investment.
Salesforce revenue in the year of their IPO: $96M. IPO: $110M
Actually, MongoDB (formerly 10gen) is 6 years old. After 6 years, Salesforce's market cap was around $3 billion. (They IPO'd after 5 years.)