Microsoft's Bing, its new search engine, overtook Yahoo’s market share in its first days of release, according to a report by StatCounter. Microsoft has devoted between $80 million to $100 million in advertising Bing, according to reports, but time will tell whether it can retain its market share in the face of fierce competition from Google and Yahoo.

A report by StatCounter suggests that Microsoft's new search engine, Bing, has overtaken Yahoo’s U.S. market share a few days after its June 1 rollout.

The online traffic-analysis firm found that, on June 4, Bing had a 16.28 percent market share, ahead of Yahoo at 10.22 percent, but lagging far behind Google at 71.47 percent.

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