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Internet entrepreneurs are dramatically changing the business environment since the late 1990s by revolutionizing how business processes and transactions are conducted all over the world. In this sense, business networking revenues are increasing exponentially and the number of products/services available online for businesses and consumers are also growing steadily. However, questions remain unanswered regarding whether and how new Internet technologies such as the so called social web, the semantic web and cloud computing will bring new forms of business networking, business value creation activities and business models. The social web can be defined as the second generation of community-driven web services (Social Networking Site, blogs, wikis, and others) where everyone can communicate, participate, collaborate and refine the information space (Colomo-Palacios 2010; Paroutis and Al Saleh 2009). In other words, the social web encompasses the design of websites and software to support and foster social interaction. Social web technologies have become not only key tools for information and knowledge management within firms (Valencia-Garcia et al. 2010), but also a required tool for competition and interaction with customers across many industries. These web sites allow knowledge creation and sharing by the interaction of employees and other stakeholders via blogs, wikis, forums and online social networks. At the same time, the potential of the social web has allowed firms not only to interact with customers but also to promote their products and services. In this sense, firms are more frequently adopting these new channels and technologies to improve their reputation and increase their market share. Shared ownership of brand, image and reputation are key benefits derived from the social Web (Jones and Iredale 2009). Despite all the above mentioned benefits resulting from the implementation of Internet technologies, traditional websites are designed to be read by people, not machines. In this sense, the advent of the semantic web has emerged in the form of new promising tools for information and data engineering (Vossen et al. 2007). The term “semantic web” was coined by Berners-Lee et al. (2001), to describe the evolution from a document-based web toward a new paradigm that includes data and information for computers to manipulate. The semantic web facilitates computers’ interpretation of information, so they can perform more of the tedious work involved in finding, combining, and acting upon information on the web (Soto-Acosta et al. 2010). In this sense, the semantic web is driving the evolution of the current web by enabling users to find, share, and combine information more easily. Still other Internet tools and services such as cloud computing are arising nowadays. Cloud computing involves the delivery of computing (shared resources and software) over the Internet as a service rather than as a product (Colomo-Palacios et al. 2012) In particular, cloud computing enables the transformation of Information Technology expenditure from a “capital expenditure” (requiring finances which may be difficult to raise) to a pay-as-you-go “operating expenditure” (Nikolov 2011). In this sense, cloud computing presents a number of potential benefits which are driving its adoption. Some of the R. Colomo-Palacios (*) Universidad Carlos III de Madrid, Madrid, Spain e-mail: ricardo.colomo@uc3m.es

Electronic markets and the future internet: from clouds to semantics