According to Bloomberg data, the IPO industry is set for an amazing year in 2012. Facebook Inc. and Yelp Inc. are both set to lead the largest year for any U.S. IPO by Internet companies since those in 1999. At least 14 other web-related companies are following suit, planning sales as well.

Bloomberg is projecting that the industry may be able to raise $11 billion next year, the most that has been raised since 1999 which saw $18.5 billion of IPOs.

As David Erickson, the New York-based global co-head of equity capital markets at Barclay Plc. said, “Technology is still a place where you can get outperformance in terms of growth against a tepid market backdrop. You might see more IPOs emerge if we get resolution in Europe or stability that makes investors more comfortable with the overall market.”