Yahoo’s future is somewhat unsure, while its rival Google is doing rather well in the business of Web search. To overcome the losses, Yahoo has now adopted a new strategy.

Yahoo has now given liberty to other Web sites to use its technology to build their own search services with the help of the beta version on API ( Application programming interface), which it would release on Thursday.

This API could be used by a publisher to build a search service that specializes in particular topic like sports. API could also be used to give users an innovative way to search content on its Web Sites.

This API is actually the part of the BOSS platform or Build Your Own Search Service, which will give access to any company to build their own search engines. By making its search technology and powerful data centers available to other companies, Yahoo has actually allowed them to build new or customized search engines without having to make the huge investments.

Yahoo in return would sell ads to the new search engines. Yahoo executives are hopeful that this new strategy would work fine for the company.

Where in May, Yahoo’s percentage for all searches was 20.6 in United States; its rival Google’s share was three times higher with 61.8 percent. Prabhakar Raghavan who is the head of the research and search strategy at yahoo said that they want their efforts to gain profit in coming few years. Though analysts feel that the step taken by Yahoo is clever and unique, yet there are questions in terms of the business relationship between Yahoo and its partners, which are still undefined.

Allen Weiner, an analyst at Gartner, said “This is being done as a public-facing move to show that Yahoo has an idea for how to get traction in online search. The overall concept is very sound. But it is way too early to determine what kind of impact it will have.”

Till now two companies “Me.dium” and “Hakia” have singed for Yahoo’s search technology-BOSS. Me.dium offers the users to find out that which Web Sites their friends are visiting. That in return helps the company to know that which all sites are popular among the users. Me.dium plans to use this information to re-arrange and supplement Yahoo’s search result.

An estimated cost of $300 million has been put forward by Yahoo to build a search service from a scratch. Though Google has already allowed Web sites to customize its search results, but Yahoo’s access to other websites is much higher, which it will give through BOSS.

As of now, Yahoo executives are hoping that their strategy works, if they have to make a survival in tough competitive business of Web Search.