The Function as a Service (FaaS) subtype of serverless computing provides the means for abstracting away from servers on which developed software is meant to be executed. It essentially offers an event-driven and scalable environment in which billing is based on the invocation of functions and not on the provisioning of resources. This makes it very attractive for many classes of applications with bursty workload. However, the terms under which FaaS services are structured and offered to consumers uses mechanisms like GB–seconds (that is, X GigaBytes of memory used for Y seconds of execution) that differ from the usual models for compute resources in cloud computing. Aiming to clarify these terms, in this work we develop a microbenchmark that we use to evaluate the performance and cost model of popular FaaS solutions using well known algorithmic tasks. The results of this process show a field still very much under development, and justify the need for further extensive benchmarking of these services.