After years of stagnation in the Internet following the burst of the New Economy, a new phenomenon ignites the fantasies of the Internet community. Web 2.0 seems to redefine the economical foundations of the Internet economy. Services such as MySpace, YouTube and Second Life have demonstrated the power of the alleged new online community services. User-generated content and social networks are the artefacts of the new movement. The mobile service industry has picked up the trend, and developed cutting-edge mobile services based on user-generated content. In the paper the emerging mobile extensions of existing online Web 2.0 applications and pure mobile Web 2.0 services are analysed and compared and the potentials for a profitable positioning of mobile operators in the value chain are extracted.