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Yahoo observing huge demand for searches -- Washington Post (27.08 )

The Washington Post reports that Yahoo officials said that the market for Internet searches will grow from $3 bln to $11 bln over the next 5 years, as computer users increasingly look for more local and product information online. Even as Internet searches continue to grow in popularity around the world, Yahoo executives said the big money to be made in the near term  is by linking computer users with more retailers, restaurants, dry cleaners and other businesses located nearby. Already, 20% to 25% of online queries have some local component, and Yahoo is planning to introduce greater capabilities for co's to advertise locally in the coming months. "We think now is the right time to go after the local market," said Ted Meisel, president of Overture, Yahoo's search engine subsidiary.