Wall St may continue to moan (see below) about the apparent failure of the Google IPO but the search engine's float seems to have encouraged the rest of the world's investment community about the web.
Along with the rocketing figures for online advertising, the Google float seems to have galvanised slowly improving semtiment of the last year.
The following was taken from an article in yesterday's media guardian and is the most upbeat public stsrtement from a big investor that I have read for years.
According to the British Venture Capital Association, in 2003 the number of companies financed at the start-up stage increased by 12% from 2002, representing investment of £73m. Moreover e-commerce companies received £399m, almost seven times higher than the £60m invested in 2002.
http://media.guardian.co.uk/mediaguardian/story/0,7558,1302970,00.html
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