The document discusses the rise of social media and its applications. It defines social media as social interaction online through communities and networks. There are six main types of social media platforms including blogs, social networks, and virtual worlds. The document notes that while social media started as a way to connect virtually, it now plays a major role in advertising, with companies spending 25-30% of their budgets on social media ads targeted based on user information. Facts provided show people now spend more time online than watching TV and are less trusting of traditional ads. In conclusion, social media has changed both how consumers and businesses interact by connecting people globally and becoming a key channel for companies to engage users.