Microsoft Corp. is rolling out a redesigned site of its Live search engine in the coming days called Bing which the company hopes it will lure Web surfers away from its competitors.

Microsoft CEO Steve Ballmer revealed Bing at the D7 conference in California Thursday; the company said it the product will become fully available to everyone on Wednesday.

Redmond, Wash.-based Microsoft share of U.S. search queries was 8.2 percent in April, according to the research group comScore Inc. Google was used for 64.2 percent of queries, and Yahoo's share totaled 20.4 percent.

The company's inability to raise its share in search was one of the main reasons they pursued Yahoo last year. Many investors think Microsoft needs to tap a much bigger audience in order to make its searches more relevant and to lure more advertisers.

To make our 8% grow significantly we don't have to capture the imagination of everybody, but we have to capture the imagination of some, Ballmer said, according to the Associated Press. We have to grow our brand equity.

We want to do better. There are times in our history where we've felt a little bit like Rocky, he continued, referring to the fictional underdog boxer. It takes persistence in this stuff. You don't always get things right.

When asked why Microsoft chose Bing, he said it was because The name is short, it's easy to say, it works globally.

Earlier this week, Ad Age reported Microsoft plans to spend as much as $100 million on advertising Bing.