Over the past twenty years, the internet has dramatically changed our world and our economy. According to the , the internet sector accounted for $2.1T, or 10% of the GDP in the US in 2018.
Back in 2000, the most valuable companies in the United States were General Electric, followed by Exxon, Pfizer, and Citigroup. Fast forward to 2020, and those names have been replaced by Microsoft, Apple, Google, and Amazon. Traditional industries have been superseded by today’s internet giants.
This change isn’t reflected only in the stock market. Traditional business models, such as retail brick and mortar, have significantly shifted their operations to online service in order to accommodate the demand. The internet has transformed the software sector as well, from one-off purchases to continuous releases, recurring subscriptions, and SaaS.
This evolution is far from complete. Every year, more businesses are moving online, relying on the cloud, and connecting with their clients (B2B and B2C) via the internet. The visibility granted by SimilarWeb into the online presence of these businesses is critical now, and will only become more important.