Close on the heels of Google’s announcement to let advertisers embed videos from YouTube, another video search engine called Blinkx offers money to its users for embedding video clips on their Web pages.

The technology called AdHoc ( from Blinkx matches relevant text ads to the context of the video and shares 50% of the revenues from the ads (InternetNews) with the publishers of the Web site. The deal is similar to Google’s model of letting advertisers use videos from YouTube.

Google’s acquisition of YouTube for $1.6 billion sent strong signals regarding the future of video on the Web. Since then, Google has been striving to come up with a model to monetize the extensive user base (BloggingStocks) of YouTube.

Online video is the emerging frontier for information dissemination on the Web, and Blinkx, which wants to do to video what Google did to text on the Web, is expanding its reach. Suranga Chandratillake, the CEO and founder of Blinkx, aims to turn YouTube into an “outdated trail blazer” (AFP).

Can Blinkx emerge as the video form of Google on the Web?