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While employees at Google may be worried about Facebook’s latest move, the Bing people over at Microsoft are pumping their fists.

That’s because Facebook is partnering with Bing for its new search product called “Graph Search.” Graph Search is all about helping Facebook users search for things their friends have shared. For example, you can find out which restaurants your friends have been frequenting or which grocery store your friends go to most often.

In the case that there are no answers, Facebook is turning to Bing for help. If your Graph Search comes up empty, Facebook will provide Bing results for the web at large. Now your Bing web search results on Facebook will be powered with social context and additional goodies like Facebook pages.

“To the Facebook user, they will not only see useful results, but we think have serendipitous experiences,” Bing writes on this blog post. Imagine searching for Jay-Z concerts on Facebook, and not only finding Facebook content, but also web results from Bing including concert tickets, news about the tour and other web results — annotated with Facebook Likes and Shares. We think this is a powerful combination.”

During Tuesday’s announcement, CEO Mark Zuckerberg said that his company has a “great partnership with the folks over at Microsoft” and also added that he’s open to working with other search engines like Google, so long as they agree with Facebook’s privacy policies.

Bing is already the default search engine for web results on Facebook, but this is a huge bonus. Now when you do a web search on Facebook, you’ll be given Bing results on the left column with information such as the number of Facebook “likes” on a result. The right hand column will be home to Facebook Pages and apps related to your search.

What does it all mean? Well, for one, this is a big win for both Facebook and Microsoft in terms of competing with that other search giant named Google. The more people search on Facebook, the better it is for Bing and Microsoft.

It also continues a strong relationship between Facebook and Microsoft, a partnership that dates back to 2007 when Microsoft invested $240 million in the social network.

Previously on GeekWire: Facebook unveils social search engine “Graph Search”

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