Snap.com develops 3G search
21 July 2005
New start-up Snap.com is planning to develop the next generation of search technology and has received $10 million in venture capital to do so.
Search pioneer Bill Gross claims that he hopes to be at the forefront of the "exploding search market". Mr Gross is famous among the web community for his search advertising innovations like paid placement and pay-per-click method, which were launched on GoTo.com.
The developer now plans to tackle the problem of click fraud and set up a new model with Snap.com called cost-per-action (CPA), which would charge commissions only when customers complete an action tied to revenue.
Mr Gross suggests that CPA will grow in popularity in the next five to ten years. Click fraud is responsible for an estimated ten to 20 per cent of internet search activity, with a recent lawsuit filed against Google claiming it is as high as 38 per cent.
"We feel there is so much more innovation that can take place in search," he said. "It's hard to say that little Snap will ever beat Google, but I think we can become a viable alternative."
Mr Gross also revealed that Snap.com will take similar measures as those by Yahoo! to personalise the search experience for users.
Snap.com is operated by Perfect Market Technologies, which announced that Mayfield, a venture capital investment company based California, had provided $10 million for the new search engine.
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