Huh? Why $40/year? A $10B valuation means that investors value the current 25M users $400 each, or potentially 100M future users $100 each, etc. You get the idea.
That's not what it means. Look into P/E ratios (especially when they're calculated by dividing market cap by annual earnings). A P/E of 10-17 is normal.
You're assuming that market cap is based on yearly earnings, which is simply wrong.
