The term web 2.0 has been frequently misused and misunderstood, however it is more than a buzz word – it defines a very real phenomenon in which user generated content can be the driving force behind an online site / service.
Some very well known and successful online entities can be considered as such – Wikipedia in which users contribute knowledge, Digg in which users help others find interesting articles by voting and facebook which is the current golden standard for social networking (in which user generated content – UGC – is a given).
Continue reading A web 2.0 business model can work, and work well