EBay in Talks to Buy Share of Korean Aution Site GMarket

As we have thoroughly discussed throughout the weeks in this class, a major component of the new media is social networking. Social networking has many different websites. Some of the more popular websites include MySpace.com and Facebook.com. But one of the largest and most successful social networking websites is eBay.com. eBay has benefited millions of Americans as they can enjoy having another form of income by auctioning off or selling their goods. Consumers also receive great deals on products that may be discontinued, difficult to find, or find products for a cheaper price. eBay has proved to be immensely successful as a social networking site with incentive to buy and sell great products.

According to the New York Times author Brad Stone, "ebay in talks to Buy Share of Korean Auction Site GMarket", eBay is now looking to expand their business by purchasing shares of the Korean version of eBay, known as GMarket. GMarket like eBay has proven to be very successful since their founding in 1999 selling over $927.7 million in goods and making a $15.4 million dollar profit from fees as a result.

Though the sale has not gone through yet, both companies are in preliminary talks to discuss the sale of shares to the Korean Fair Trade Commission. This merger of sorts would expand the realm of social networking and while eBay has an international scope, this would help further the communication throughout the world making it an even more powerful social networking site.

This is a great example of how the new media is having a significant impact on society. eBay has proved to be so beneficial to consumers and the society as a whole that various companies have developed their own forms of auction and selling sites. The collaboration of these sites in any way would benefit society immensely as social networking will take on a stronger international meaning.
http://bits.blogs.nytimes.com/2008/08/13/ebay-in-talks-to-buy-share-of-korean-auction-site-gmarket/index.html?ref=technology

Social Networking

One of the most important and innovative steps that the "new media" has given the public is the ability to communicate with friends and family easier than ever before. E-mail was the first step to more efficient communication and now the next step that the new media has taken is social networking sites. These sites make it easy to chat with friends and, stay updated on their currents status through their profiles, as well as make new friends through networking and groups. Social networking sites like Facebook, MySpace, Friendster, eBay, Craig's List and more, have become favorites for millions of people around the world.
Ebay is a social networking site that is unique because it blends business with pleasure. While you are able to bid, buy and sell on eBay, you are also able to communicate with bidders, buyers and sellers. Through groups chats, eBay messaging and feedback responses, there is an increased communication level between the buyer and seller making it more personal and secure than other online shopping sites. The eBay groups have also made it possible for buyers and sellers to discuss certain items that they enjoy and can go back and forth between selling and buying.
Facebook is a social networking site that has steadily increased its membership over the past few years. The site originally started as a way for college students and graduate students to communicate with each other and network. With its increased popularity, Facebook began to allow everyone to join the site. On Facebook you can create a profile with a main picture, interests, jobs, and hobbies. You can also add and create photo albums and tag friends in photos. There is also a Facebook email option as well as status updates about friends. A great feature about Facebook is that on your own personal home page it shows upcoming birthdays of your friends. Since privacy is an on-going problem with the new media, only people who are in your network and friends that you have added are able to see your profile and comment on your page.
These social networking sites have brought new meaning to rapid communication and people who would normally not ever meet or communicate with each other are able to do so through these social networking sites.

Blogging

Blogging has taken a major place in politics, entertainment and social networks as a whole. This aspect of new media has made information more readily available to loyal readers as well as media outlets attempting to get public opinions about certain topics. 

Walmart Buyers and employees now have a voice about the products that the mega store is pushing. The Walmart blog site is called Checkout (checkoutblog.com) and is an open space for real opinions about products. For example, a Walmart employee in charge of buying computers discourages consumers from buying Windows Vista by stating that the hype about the product is exaggerated. New information on Walmart's products are also being written on the website including that Walmart will now only be stocking HD televisions only with Blue Ray DVD technology. This provides exclusive insider information from the employees which is helpful to the public. 

The article, "Celebrity Blogs: The Impact of New Media" emphasizes how celebrity and entertainment blogging has proven to be successful. Many entertainment bloggers like Perez Hilton and Trent Vanegas have taken mainstream entertainment news and putting it in blogs making it new and innovative. Television shows like Access Hollywood are noticing that some of their viewers, mostly the younger viewers are going to blogs for their entertainment information. Though many media outlets still have an advantage because they have stronger connections with the celebrities themselves. However, audiences want current and updated information throughout the day which is easily achieved by Internet bloggers. 

"The Power and Politics of Blogs" article argues that blogger subscription and readership is relatively low in comparison to media outlets it is the rapid increasing of blogger participation. Bloggers are now active participants in public debates making it an open forum of political opinion and debates. As a result there is an overlap in media outsets and blogs inc order to encompass public opinions in regards to politics. 

"Brooklyn Blog Helps Lead to Drug Raid" is an example of the major impact blogs have including incorporation of law enforcement using blogs as clues to detect crimes. The blog Bay Ridge Talk had blog posts stating residents suspicions of a drug ring in their neighborhood stating they heard loud noises, deaths related to drug overdose and fighting. The neighborhood response led to a break in of what was suspected to be a drug house and was successful in that that was in fact the case.