Google IPO cancelled, at least for now

Google fans and potential investors will be disappointed to learn that they must wait a while longer before they can own a piece of Google. TheTimes of London's James Doran reports that Google's IPO plans are on hold. CEO Eric Schmidt appears to think that market conditions are not right. When pressed for details about the delayed IPO, Schmidt said, "An IPO is not on my agenda right now. [Slashdot]

I think the reason is more that he's afraid people will figure out that Google doesn't presently deserve a multibillion dollar IPO. If they can find a way of getting a huge captive audience, then it will, but it isn't there at this point. It's possible. But it just hasn't happened. They just haven't offered anything compelling enough.

For example, many of the latest blogosphere murmurs on Orkut aren't too positive.

(Google can bring up my previous comments on the subject here. Thanks, Google! I love Google, I just don't think it's worth billions of dollars.)