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This paper explores the functions and features of netizen translations as well as their implications from the perspectives of 'collective intelligence' and 'reverse agenda-setting' which are considered the most salient characteristics of Web 2.0. The study reveals that netizens’ translations serve as a starting point for discussion and expansion of knowledge and as an indispensable part of integrating different types of information. Netizens engage in translation activities in a simultaneous and immediate manner. They are generous toward machine-translated, low-quality translations by other netizens and do not question whether the source texts are genuine. The study also shows that netizens’ translations or their translation activities have been covered by major mass media. However, the coverage is mostly concentrated in the sports and entertainment areas. These findings shed light on the possible role segregation between professional translators and netizens and the areas the academia and professional translator's need to educate netizens on.