2. How it came into existence ?
• Rise of internet connectivity
• More affordable electronic goods
• Greater computing speed
• Favorable governmental support
3. What it is ?
• Internet based applications
• Virtual communities and networks
• Most of the content is user generated
• Highly customized
4. Why it is important ?
• Channel for horizontal communication
• Another avenue to buy/sell goods and services
• Source of free information
• Transcends across cultures, countries
5. Impact on economy
• Some social media companies are worth multiple billions.
• Job creation
• Tool for Globalization
• Information on social media has impact on an individuals
employment prospects.
