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Up until Google, software products in Beta usually had many bugs. Typically, this would be desktop software that had not been tested in more operating environments than the developer's own computer. I believe Google was the first major web application to use the term beta, and at the time, it was a very strange thing to do. It was probably because they were in "beta" that they didn't try to place ads all over the place; they didn't want to worry about that because they were too busy trying to figure out the best search algorithm.

Beta could mean that more features are coming soon, like with Google. But Beta can be the original meaning--that the software or web app is available for feedback but may not even work correctly. That's not something new, however.

Or to use an old cliche, "you only get one chance at a first impression."
Amen