Snap Raises $10M - Trumpets "Cost Per Action" Model

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Good story in the HT about Snap.com raising $10M in Venture Capital from Mayfield...

As Snap gears up to shift out of test phase, the search engine's parent company - Pasadena-based Perfect Market Technologies Inc. - has raised $10 million in a venture capital round led by Mayfield, a Menlo Park firm. Gross and Snap CEO Tom McGovern intend to use some of that money to spread the word about a system that he believes can deliver better value for advertisers.

Gross is among those who believe click fraud is a big problem. He aims to change things with a "cost per action" system that only charges ad commission when a purchase is actually completed.
"I believe the commercial side of search will evolve toward cost-per-action in the next five to 10 years," Gross said.

Snap haven't particularly grabbed my attention of late, but that was pretty interesting, and with a few $$$'s to play with it might be worth taking a little more notice now I think...