A web browser (commonly referred to as a browser) is a software application for retrieving, presenting and traversing information resources on the World Wide Web. An information resource is identified by a Uniform Resource Identifier (URI/URL) and may be a web page, image, video or other piece of content. Hyperlinks present in resources enable users easily to navigate their browsers to related resources. Although browsers are primarily intended to use the World Wide Web, they can also be used to access information provided by web servers in private networks or files in file systems. History The first web browser was invented in 1990 by Sir Tim Berners-Lee. Microsoft responded with its Internet Explorer in 1995, also heavily influenced by Mosaic, initiating the industry's first browser war. The most recent major entrant to the browser market is Chrome, first released in September 2008. Business models The ways that web browser makers fund their development costs has changed over time.