Web 2.0, a phrase coined by O'Reilly Media in 2004, refers to a perceived or proposed second generation of Internet-based services—such as social networking sites, wikis, communication tools, and folksonomies—that emphasize online collaboration and sharing among users. O'Reilly Media, in collaboration with MediaLive International, used the phrase as a title for a series of conferences, and since 2004 certain technical and marketing communities have adopted and loosely adapted the phrase.
More from http://en.wikipedia.org/wiki/Web_2.0
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