Is Googling about to become as dated as 8-track tapes, New Coke and Molly Ringwald?
If Microsoft has anything to say about it, the answer is yes. If they have their way you'll be Binging yourself -- and your friends!
I know it sounds a little sketchy, but Bing is the name of Microsoft’s new search engine -- and it could be unveiled as soon as Thursday at the All Things D conference.
Considering Google generates as much as $20 billion from its search business -- its no wonder that Microsoft wants a bigger piece of that pie.
And they’re willing to spend to get it.
According to reports on AdAge.com the software giant is prepared to drop up to $100 million to promote its new search engine. (That’s double what even the biggest rollouts typically get from major advertisers like P&G or General Mills .)
And the ads could be effective, The will “focus on planting the idea that today's search engines don't work as well as consumers previously thought by asking them whether search (aka Google) really solves their problems. Microsoft is hoping, (the ads) will give consumers a reason to consider switching search engines, which, of course, is one of Bing's biggest challenges,” says AdAge.
Sounds like Microsoft is getting out the big guns. Well, they need to. According to Bloomberg Microsoft accounted for measly 8.2 percent of U.S. Internet searches in April, while Google had a whopping 64.2 percent.
So, two years from now will you be Binging instead of Googling?
UBS analyst Heather Bellini doesn't think so. In fact she tells Fast Money Bing is probably a lot of tempest in a pot of tea. She says, “I don’t think it’s a game changer. Microsoft still needs to buy Yahoo! to increase market share.”
What's the bottom line? Bellini has been pretty spot on -- and it's safe to bet she may be right again. Of course if she's wrong, then two years from now we could be Binging her name -- to see if she's found another job!
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Trader disclosure: On May 27th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (ABT), (TER), (XBI), (RIMM), (IBM); Terranova Is Short (XOM) Call Spread; Terranova Owns (DIS) Call Spread; Najarian Owns (ISIS); Najarian Owns (AMAT) Calls; Najarian Owns (BX) Call Spread, (INTC) Call Spread, (MOS) Call Spread, (XHB) Call Spread, (XLB) Call Spread, (XLU) Call Spread; Grasso Owns (V), (XLF), (RIMM), (AMZN); Grasso's Firm Owns (MSFT); Grasso's Clients Owns (JPM), (OXY), (AMR), (V)
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