Social Media Can be Profitable

Mashable recently posted this video in which Bloomberg interviewed Mashable CEO Pete Cashmore, in which he discussed how the blog which was first introduced in 2005 was able to utilize web 2.0 technology to provide 24/7 news coverage of what's happening on the web and in social media.

The site has many revenue streams including advertising, job boards, and even events. This is just an example of how web 2.0 technology in this day and age has replaced traditional media in the way we receive information. Watch the video below.