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(Continued) The RFS Newsletter, February 5, 2005. Page 10
And to end the news on Friday, Piper Jaffray financial analyst Safa Rashtchy surprised a handful of people at the last New York Ad-Tech show in November. Safa Rashtchy doubled his search revenue projections for the 2005 to 2010 period. And he even bumped these projections less than two years after they originally came out. Back then, Rashtchy's $7 billion by 2007 revenue projection was quoted everywhere. You couldn't turn around without seeing a reference to these amazing growth predictions.

First of all, the growth numbers. In March 2003, Rashtchy estimated that worldwide search revenues would hit $7 billion by 2007. Just a few months later he was quoted as saying that these numbers are likely too conservative. With last November's presentation, he had the opportunity to bump those numbers up.

Rashtchy now feels we'll not only hit that target, but surpass the 2007 - $7 billion mark this year. Next year, he predicts search revenues to top $10 billion, and then hit $13.5 billion in 2007, $16.2 billion in 2008, $19.8 billion in 2009 and top $23 billion in 2010.

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