Leader: Google IPO a sign of things to come

Google has finally started the IPO ball rolling. A flotation could be a watershed event for the tech industry on a par with Netscape's public offering in 1995.

Although the plans are in the early stages the Google could float as early as March next year, with figures of $15bn being bandied about. silicon.com predicted as much in our recent Agenda Setters 2003 poll, which placed Google CEO Eric Schmidt in the top 20 of the people who will most influence the tech world over the next 12 months based on the expected IPO.

If successful, the move is also likely boost the tech industry and act as a catalyst for other much-mooted flotations such as Symbian, the mobile OS venture based in the UK.

And that wasn't the only good news this week. Analyst Gartner predicted that IT budgets are back on the up – talking of a "big turn" that will see firms focus on investing in technology that will drive revenue growth for their business. Web services and wireless were highlighted as two of the main areas that will benefit as they mature.

Online advertising revenues are also on the up, with internet advertising in Europe set to hit double-digit growth in 2003 and continue until 2005. Analysts put the increase down to more people switching to broadband and more signing up for ecommerce promotions.

Now no one is suggesting a return to the crazy highs of the tech boom in the 1990s but, and be careful to whisper it now, things seem to be finally looking up again for tech.