While many tech companies were created in Europe and continue to work there, a majority of them prefer to have their IPO's in U.S., and the number is only growing. Attempts to turn East London into "Tech City", to create European School for Internet Professions in France, or to start Skolkovo in Russia seem unlikely to change the situation. The problem is that in U.S. there are more experienced investors, more money for tech IPO and maybe the most important factor is that tech companies are simply valued higher there.
You can read the article in Businessweek on the topic: Why Europe's Tech Firms ♥ New York
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