Microsoft was the last of the "Big Three" search engines (Microsoft, Google and Yahoo!) to develop its own system for delivering pay per click (PPC) ads. Until the beginning of 2006, all of the ads displayed on the MSN search engine were supplied by Overture (and later Yahoo!). MSN collected a portion of the ad revenue in return for displaying Yahoo!'s ads on its search engine.
As search marketing grew, Microsoft began developing its own system, Microsoft adCenter, for selling PPC advertisements directly to advertisers. As the system was phased in, MSN search showed Yahoo! and Microsoft adCenter advertising in its search results. As of June 2006, the contract between Yahoo! and Microsoft has expired and Microsoft is displaying only ads from adCenter.
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