Synopsis
As the home of names such as Microsoft, AOL and Google, the USA has led the world in the development of Internet information and applications. Recent studies consistently show that the Internet is playing an ever-increasing role in daily life, both at work and in the home. The major uses of the Internet include email, search and online shopping. User-generated content sites and social networking sites, such as MySpace, Facebook and Bebo, were some of the fastest growing sites between 2006 and 2008. As testimony to the growth of this market, in November 2006 Google acquired YouTube for $1.65 billion and in October 2007 Microsoft acquired a 1.6% share in Facebook for $240 million. Growth in the search and social networking segments, as well as in e-commerce and online advertising, is expected to remain buoyant despite the US economic downturn.