Modern development of e-business is considered from the point of view of it as a component of information economy. Theoretical background of Internet sphere concepts definitions is investigated. The development of the Internet is considered by the authors at three levels. Levels of e-economic activity are listed too. The main goals of online business creation are analyzed. The article contains statistics on the level of electronic environment development in Ukraine. It is stressed that UAnet or Internet segment in Ukrainian is among the most common language segments on the Internet. Websites in Ukrainian make up a significant part of the global network. At the same time, among the most popular Ukrainian websites, there are only few sites which main language is Ukrainian. The authors pay attention to consideration of cloud services development. They note that the Internet provides opportunities for the development of activities that have traditionally been perceived as offline, in particular the educational field. The material of the article confirms the great potential of Ukrainian developments in the Internet environment. Examples of successful technological solutions of domestic developers are listed. The authors state that electronic environment greatly facilitates the work of businesses with potential consumers and creates opportunities for easier entry into the market for new players. The authors draw conclusions that the evolution of e-business in Ukraine has already passed a number of stages, but is still in a stage of growth. This market is ready for radical innovations.