And what could make this situation more interesting is that Google is reportedly working on launching its own social network. Rumored to be dubbed, Google Me, the social network is considered to be Google's shot at creating a Facebook killer.
Google hasn't had a lot of luck in the social networking arena. Its Google Wave social networking service was shut down in August and reviews of its Google Buzz were lackluster. But the company has learned from its failures and may be ready to try to snare some of those advertising dollars away from Facebook.
Ezra Gottheil, an analyst with Technology Business Research, said there's a big battle brewing between Google and Facebook, and Microsoft may have found a way to use that conflict to chip away at Google's massive market lead.
"[The new partnership] moves some searches from Google to Bing," he added. "For major Facebook users, I believe 'social search' is attractive, and many are likely to switch to Bing for all searches.... Not only does [Google] lose users, but they lose young users."
Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin or subscribe to Sharon's RSS feed. Her email address is email@example.com. Read more about web 2.0 and web apps in Computerworld's Web 2.0 and Web Apps Topic Center.