DEFINITION of 'Web 2.0'

A term used to describe companies, applications and services on the Internet that have transitioned from the old "Web 1.0" structure. Web 2.0, in general, refers to the web applications that have transformed following the dotcom bubble. It describes the new age of the Internet – a higher level of information sharing and interconnectedness among participants. Web 2.0 does not refer to any technical upgrades to the Internet; it simply refers to a shift in how it is used.

BREAKING DOWN 'Web 2.0'

Examples of Internet sites that are classified as Web 1.0 are Britannica Online, personal websites and mp3.com. These websites are generally static websites with limited functionality and flexibility. Some examples of Web 2.0 sites now include Wikipedia, blog sites and Bittorrent, which all transformed the way the same information was shared and delivered.

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