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1.
Your electronic Second Life.
Can be best described using examples:
Social Media can be best discribed as:

Facebook-I like doughnuts

Twitter-I'm eating #doughnuts

Instagram-Here is a polaroid-esce photo of doughnuts

Foursquare-This is where I eat doughnuts

Youtube-Here I am eating doughnuts

Myspace-Meet the Up-and-coming band, 'doghnuts'

Linkedin-My skills include doughnut eating

Pinterest-Here is a recipe for doughnuts

Last FM-Now listening to 'doughnuts'

Friendster-Lets play the game 'doughnuts'

eHarmony-Review: David Doughnuts, round, sweet

personality, loves Krispy Kreme

Formspring-What do you like about doughnuts?

Rate My Teacher.com-Helpfulness:5/5 Easiness: 5/5 Clarity: 5/5. OMG Mr Doughnut is sooo LOLs.

Zoosk-Can you see the doughnut?...hehehehe...

G+-I'm a google employee who eats doughnuts

tumblr-Explore tags: Fuckyeah! Doughnuts!

Academia.edu-What is 'The Perfect Doughnut'?

Badoo- buñuelo, دونات, beignet, donut, doughnut

Bebo-'The doughnuts here will never be as good as the ones on Facebook.'

*@Joe Public
In the Uk doughnuts are spelt this way.
In the US donuts are spelt this way.
by Urban Dictionary is not one February 06, 2012
 
2.
Online networks where both adolescents and young adults go to express one of two statements:

1) "I'm complaining about my boring, shitty life." Used as an alternative to actually making life interesting.

2) "Look how superior my boring, shitty life is to your boring, shitty life" Used to passively belittle the only 250 people the individual knows.

Also used by middle aged adults mostly to post pictures of cats.

Popular websites are Facebook, Twitter, and Instagram.
Person 1: "I'm insecure about my life so I will post a picture on the social media site Facebook, of me having a great time. Although, most of that time was pretty shitty."
Person 2: *sees picture* "Wow, my life is pretty shitty compared to theirs."

Person 3: "I hate my job because I'm uneducated and nobody ever taught me how to work hard. I think I will tweet about it on the social media site Twitter, so maybe people will pity me."

Person 2: *reads tweet* "At least my life isn't that shitty."
by I Hate my Generation December 16, 2013
 
3.
participatory online media that utilizes the group to write and direct content, rather than a read-only media. Allows for direct contact between participants.
Listservs were early examples of social media and are still used by millions, but more rapid response forms like Twitter and Second Life have become popular as laptops have gotten cheaper.
by Pheline January 31, 2008
 
4.
propagation and sharing of information through social networking sites such as Twitter and Facebook.
Social media is a growing field.
by uttam maharjan February 07, 2012