What is the purpose of web conferencing? is it the same as online chatting?

Web Conferencing is an online service by which you can hold live meetings, conferencing, presentations and trainings via the internet particularly on TCP/IP connections. You can connect to the conference either by telephone or using your computer's speakers and microphone through a VoIP connection

Online chat includes web-based applications that allow communication – often directly addressed, but anonymous between users in a multi-user environment. Web conferencing is a more specific online service, that is often sold as a service, hosted on a web server controlled by the vendor.

They are kind of similar

a  social news website  is an  internet  website  that features  user-posted stories. such stories are ranked based on popularity, as voted on by other users of the site or by website administrators. users typically comment online on the news posts and these comments may also be ranked in popularity. since their emergence with the birth of  web 2.0, social news sites have been used to link many types of information, including news, humor, support, and discussion. all such websites allow the users to submit content and each site differs in how the content is moderated. on the  slashdot  and  fark  websites,  administrators  decide which articles are selected for the front page. on  reddit  and  digg, the articles that get the most votes from the community of users will make it to the front page. many social news websites also feature an online comment system, where users discuss the issues raised in an article. some of these sites have also applied their voting system to the comments, so that the most popular comments are displayed first. some social news websites also have a  social networking  function, in that users can set up a user profile and follow other users' online activity on the website.