I would only call them competition if people start talking about them... This is the first I've heard about the company so I don't believe they will be competing with Google.com for a long time.
Google is giant ... google's competitors can be Microsoft and Yahoo!. other else all are just begineers. They have to work hard to even reach were google is today
I saw this at another site: "Google paid out $550 million to Adsense publishers in 3 months"
There's certainly no harm in trying to compete with anyone (though I guess 'bankruptcy' could be considered harmful :P) but it will remain to be seen if they are COMPETITIVE against Google.
na, i dont think there is any way they could take on google. (unless a multi billionair owns it and is going to do a lot of advertiseing or even better... buy google out
OH. I have heard of MARCHEX. They have a lot of money and could very well take some marketshare from Google if they do things right, however they will never actually "replace" Google and they'd be stupid to try. I will keep an eye on them.