Paul's 'money bomb' nets over $1M

An online "money bomb" fundraiser for likely GOP presidential candidate Ron Paul has netted his campaign over $1 million.

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As of 7:51 a.m. on Friday, donations pushed past the $1 million mark, according to Paul's website. The "money bomb" was launched to bolster the Texas congressman before he participated in the first GOP primary debate of the 2012 cycle in South Carolina on Thursday night. 

Paul became known when he last ran for president in 2008 in part for his ability to raise money online via the highly successful "money bomb" strategy, which entails a short burst of fundraising that typically spans a day or a few hours and is reliant on viral advertising. 

Paul launched a "money bomb" in February 2011 for his political action committee, which raised around $700,000.