This week felt like a time warp, back to the go-go days of the 1990s. LinkedIn (NYSE:LNKD) pulled off a highly successful IPO, and immediately saw its shares nearly double on Thursday. 

But LinkedIn is really just the pregame show. There are other companies, like Zynga, Twitter, Groupon and Facebook, that are likely to have even bigger offerings down the road. 

However, because of the time-consuming legal and regulatory process, these IPOs are likely to not hit the markets until the fall, at the earliest. 

So, is there a way for investors to benefit from this trend now? 

Perhaps there is — one idea is to buy Google (Nasdaq:GOOG).  Granted, the stock price has been a laggard over the past couple years, and the company brought back its co-founder, Larry Page, as the CEO to restructure the operation.

But to understand the opportunity, look back to the last IPO boom.  One of the biggest beneficiaries was AOL (NYSE:AOL), even though by the mid-1990s the company was already considered a has-been because of the surge of the Internet.  Even back in those giddy days, the dial-up business seemed like an anachronism.

Yet AOL had a huge audience, which could scale nicely for advertisers.  In other words, as dot-coms pulled in billions from IPOs, they saw the company as easy way to get distribution. 

Fast forward to today, and Google appears to be in the same pole position.  When it comes to cost-effectives and reach, there is no comparison.  In the search market, it has a hefty market share of about 65%.  And it’s a cash cow, generating about $12 billion in the past year. 

Google has also invested aggressively in expanding its advertising-based platform.  For example, YouTube is a highly valuable asset and provides exposure to the fast-growing video market.  And then there are the mobile assets.  For example, the Android operating system is growing at a torrid rate, and it appears like Google has 90%-plus market share for mobile search.

Google is also making inroads in the display advertising segment, due to its acquisition of DoubleClick.

True, there are other large advertising destinations like Microsoft (Nasdaq:MSFT), Yahoo (Nasdaq:YHOO), Facebook and even AOL, and they will certainly benefit from the ad boom.  But they don’t have the girth of a company like Google.

Funny enough, one of the criticisms about Google is that much of its revenue comes from advertising.  But if there is a spike in the business because of IPO funding, this could be a huge advantage — which should help boost the stock price. 

Oh, and valuation is fairly cheap, coming at only 20 times earnings.  Keep in mind that LinkedIn is trading at over 500 times its 2010 earnings.

Tom Taulli’s latest book is “All About Short Selling” and he has an upcoming book called “All About Commodities.”  You can find him at Twitter account @ttaulli.  He does not own a position in any of the stocks named here.