Or to put it another way, how many billion dollar software companies are there whose value hasn't been created substantially by the markets alone?
If you want companies that have justified their valuation based on past profits, you will need to go to older dates.
eg 1998: OpenTable, Google, Rackspace, PayPal.
Or to put it another way, how many billion dollar software companies are there whose value hasn't been created substantially by the markets alone?