Bing Captures Bigger Share Of U.S. Search Market

Bing had the most search growth for the month of June, growing 7 percent month- over-month to capture 9.85 percent of the U.S. search market, according to the latest figures released by Hitwise.

Google accounted for 71.65 percent of the search market, but saw a one percent drop in growth month-over-month. Yahoo's search growth was flat, accounting for 14.37 percent of the market and Ask captured 2.19 percent of the search market, with 2 percent growth month-over-month.



Search engines continue to be the primary way Internet users navigate to key industry categories. Comparing May 2010 with June 2010, automotive, business and finance, entertainment, news and media, shopping and social networking categories showed double-digit increases in their share of traffic coming directly from search engines. source: www.webpronews.com/topnews/

Google Founders To Sell 10 Million Shares Over Five Years

According to an SEC filing late this afternoon, Google’s founders Larry Page and Sergey Brin “each intend to sell approximately 5 million shares” — over a period of five years. This is not a reaction to any particular development in the market or perception of the outlook for Google; rather this is part of a plan to diversify their portfolios over time.

According to the filing:

These pre-arranged stock trading plans were adopted in order to allow Larry and Sergey to sell a portion of their Google stock over time as part of their respective long-term strategies for individual asset diversification and liquidity . . . Using these plans, they can gradually diversify their investment portfolios and can spread stock trades out over an extended period of time to reduce market impact . . .

Larry and Sergey currently hold approximately 57.7 million shares of Class B common stock, which represents approximately 18% of Google’s outstanding capital stock and approximately 59% of the voting power of Google’s outstanding capital stock. Under the terms of these Rule 10b5-1 trading plans, and as a part of a five year diversification plan, Larry and Sergey each intend to sell approximately 5 million shares. If Larry and Sergey complete all the planned sales under these Rule 10b5-1 trading plans, they would continue to collectively own approximately 47.7 million shares, which would represent approximately 15% of Google’s outstanding capital stock and approximately 48% of the voting power of Google’s outstanding capital stock (assuming no other sales and conversions of Google capital stock occur).

Google has a dual class stock structure, consisting of Class A and Class B stock. Currently Brin and Page control about 59% of the Class B stock, but a minority of all outstanding shares. Class A shares have one vote each and Class B shares each control 10 votes.

At the end of the five year diversification term specified in the SEC filing, the two co-founders would own 47.7% of Class B shares. And together with CEO Eric Schmidt they would still own more than 50% of the Class B shares.

There have been unsuccessful efforts in the past to equalize the voting power of all shareholders.

One could argue that this dual-class stock structure enables Google to do things like stand up to the Chinese government, against the dominant logic of the market and potential objections of Class A shareholders (especially institutional shareholders). Indeed, Microsoft CEO Steve Ballmer has criticized the move as “irrational.”

If sold today, the 10 million shares would be worth a little over $5.5 billion at Google’s current share price. source: http://searchengineland.com/

Bing Updates Autosuggest With News & Trending Queries

Bing’s autosuggest feature now provides more current suggestions as you type a query. Bing says that it’s added “breaking news and hot trending queries” into autosuggest, with updates being pushed out every 15 minutes.

So, for example, start typing “orange county” into Bing and the autosuggest feature will show a couple terms related to today’s extreme weather.

Bing hopes to improve some of the 45% of queries that it says “result in either a user conducting an immediate re-query, or abandoning the page altogether.”

But this is somewhat of a catch-up move, at least where Google is concerned. Do the same search on Google.com, and you’ll also get suggestions related to today’s weather.

Yahoo’s suggestions don’t take today’s news into account, however — even when you fully type “orange county.”