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BW Online | March 24, 2003 | Search Engines Are Picking Up Steam
The article writes:
“When Merrill Lynch & Co. analyst Henry Blodget began covering GoTo in January, 2001, a client asked what was interesting about it, besides investment-banking fees for Merrill. Blodget’s tart e-mail reply: “Nothin’.”
Today, Goto (now Overture) is often referred to as the engine that saved all the engines. It was the catalyst for saving the search engine industry from going down the tubes when people stopped buying banners.
Search advertising is cheap (”At an average of 35 cents a click, paid search undercuts the $1-per-lead average for Yellow Pages ads”)
Search revenue is slated to make $2 billion this year.
And best of all… it works for advertisers.