Snap.com Secures $10 Million in Financing

Jul 22, 2005


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Perfect Market Technologies, Inc., which operates Snap.com, a search engine developed to deliver search results with an advertiser-centric business model, has announced it received $10 million in new venture funding. The round was led by Mayfield, based in Menlo Park, CA, with additional participation from founding investor Idealab of Pasadena, CA. The new funds will be used to further the company's product development initiatives and for company operations. Allen Morgan of Mayfield will join Perfect Market Technologies, Inc.'s Board of Directors. Snap.com offers advertisers the ability to pay for their desired business results, including sales, downloads, leads, subscriptions, or other actions important to the advertiser. With traditional Pay-Per-Click, advertisers pay the search engine whether or not a click leads to revenue. Snap's Cost-Per-Action ("CPA") system offers advertisers the ability to pay when a customer completes an action tied to revenue, eliminating this risk. Snap.com's CPA model is designed to eliminate the risk of click-fraud for the advertiser.

(www.snap.com; www.mayfield.com