by Richard Encarnacion

Created on: October 25, 2009

Back in 00'

When the first social networking site were being develop, their was not an exact explanation for this type of site or if it could make money or not. The first popular site that came out that i was a part of was Myspace, back when it was first conceived, many people did not think that it would last, and many people who are in their mid 30's and 40's were pissed that their communication network had passed them. I though this was a great idea since day one, am proud to be one of the few people that though this was going to work, and the fact that i was part of the first wave and movement in the development of this institution which now belongs to pop culture history.

My theory is that with the development of social sites, came the new age in communication. Many people had families all over the world that were in some sort of need to communicate a message and had to pay long distant fees over the phone, then companies such as skype saw the need for people to communicate and instantly profited from the idea.

After five years online, we seen a development of more sites. The next site that i was aware of was linked-in, but time passed and i did not see a need to belong to this network so i opted out, then came face book and tagged. My-space had targeted anyone but face book targeted people who also wanted to build networks and contacts, with the development of this site people where able to produce business and personal connections. Now this site is so popular that it also has become part of our daily lives, facebook has over 100 million users and myspace over 300 million people that communicate all over the world different messages and ideas.

The fall of web 1.0 was what created the need for this sites to exist, then now we face a web 2.0 which is a large network of people that live in this large world communities. A village of enormous amounts of information, with that comes companies that want to take advantage of the fact that so many people come to these sites and have paid large sums of money to advertise or to own these companies.

Myspace was purchased back in 2006 for over 1.5 billion dollars a bargain at the time now it's valued at over 50 billion dollars, and face-book valued at 15 billion dollars. In 2007 google paid facebook 560 million dollars to place their search engine on that site, i believe that these sites have created a information for both consumers and business people to meet and see what they want from each other. Not only did google take advantage of facebook but they also purchased youtube for 800 million dollars, making their brand more powerful and keeping control of the online rising community.

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