New company starts up a challenge to Google

Not really that novel. There are quite a few 'directory' sites which use Overture PPC results for listings (also see 'directories' using ESpotting for content)., Also Overture itself lists any PPC results which matches the search followed by a backfill from Yahoo (which is the owners of Overture).

The only new one on the horizon is the MSN search engine The beta is launched today, the Desktop search in December and the full search engine next year when their existing contract with Yahoo expires. (previously they used Inktomi, but they were bought by Overture...). Just as a note though MSN results exclude the Overture Sitematch listings from the natural search (which require an annual registration fee and a fixed CPC).

Normally, I'm not a great fan of Microsoft but the search engine industry is dominated by Yahoo and Google and desperately needs some more competition.

PS. PPC = Pay per click, CPC = Cost per click.