Lost in the conversation of “Google’s share of the U.S. search market” or “Facebook’s share of the U.S. display ad market” is an uncomfortable fact: The American market doesn’t matter nearly as much anymore. Boston Consulting Group’s fascinating study on the web economy included a great tidbit on the shifting profile of internet users in G-20 countries.
In 2005, internet users in emerging countries accounted for about 32 per cent of the connected population. By 2015 BCG forecasts that figure to balloon to over 67 per cent. Much of that spike can probably be accounted for by the BRIC countries coming online, but it underlines an important point nonetheless: The internet is not nearly as ubiquitous as many western observers often assume. To drive this home even further, these figures only include one country in Africa and two in South America.
So, why raise a $1.5 billion fund to invest in the internet? Because the digital age is just getting started and any medium used daily by over 2 billion people offers unfathomably large business opportunities.
Photo: Boston Consulting Group
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