EXCEPT FOR XEROX AND FEDEX, few corporate names ever make it into the lexicon of action verbs. The latest entry, however, appears to be search-engine specialist Google, which is now invoked routinely by users of the Internet ("How did you find me?" "I just Googled your name.").
While Google's migration into the realm of public usage may be surprising, it's not nearly as surprising as its migration into the realm of public markets. Google management is expected to take the company public in a deal that could be valued as high as $20 billion.
The underwriting would be the surest signal yet that the retreat from all things Net may finally be over. Of late, commercials for online businesses--not seen for the past two years--have started popping up on television once again.
Such profile-raising is big news in the virtual world. Even bigger news: the recent run-up in the share prices of many dot-corns. During the first three quarters of 2003, the stock price of Ebay Inc., the E-commerce standard-bearer, jumped from $34 to just over $54 (the company also launched a two-for-one stock split). Likewise,
Those spikes--plus the emergence of such lesser-known but thriving dot-corns as RedEnvelope and prototyper Quickparts.com--could have finance executives revisiting their dot-com strategies. Odd as it may sound, investing in Internet projects may make sense again. Same thing for mimicking successful E-business models. Wal-Mart Stores Inc., for example, is gearing up to compete with Internet movie darling Netflix Inc.
Talk of acquiring an Internet company is no longer grounds for institutionalization, either. Consider InterActiveCorp, the New York-based owner of TV shopping channel HSN. The company; which is run by former Vivendi Universal boss Barry Diller, has gone on an E-acquisition frenzy during the past six months, purchasing Expedia, Hotwire .com, and Hotels.com, among others.
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