You can't spell "Bing" without "B-I-G." Web analytics firm Experian Hitwise reports that Microsoft's (Nasdaq: MSFT) share of the search market has risen to 24%.
That figure is a far cry from the nearly 72% share that market leader Google (Nasdaq: GOOG) notched last month, but it validates Microsoft's decision to begin powering Yahoo! (Nasdaq: YHOO) searches. The Hitwise score came during the first week of the companies' new search relationship.
Microsoft was never going to get to 24% organically, and Google's mammoth chunk of the market virtually mandates teamwork among Big G's rivals to make any kind of dent in the search market.
Bing still has a long way to go, but 24% is nothing to sneeze at, especially as advertisers map out their marketing campaigns.
Briefly in the news
Let's take a quick look at some of the other stories that shaped our week.
- Best Buy (NYSE: BBY) became the latest retailer to agree to stock Amazon.com's (Nasdaq: AMZN) Kindle. That makes three major chains outside Amazon's namesake website that now sell the e-book reader.
- YRC Worldwide (Nasdaq: YRCW) won't let itself be delisted quietly. The trucking company has a hearing slated with Nasdaq to discuss the matter. YRC hasn't traded above the $1 minimum requirement to stay on the Nasdaq since January, but this is a company with an enterprise value of $1.3 billion. So even though the stock price is small, YRC is definitely not.
- IMAX (Nasdaq: IMAX) inked a deal for another two of its big-screen installations in China. IMAX now expects to have 67 screens in China come 2014. Who says China doesn't get the big picture?
Until next week, I remain,
Rick Munarriz
