Online reputation building and supression is growing.

GrowthOne of the first web companies to exploit feedback from consumer generated media was eBay.[13] By using user generated feedback ratings, buyers and sellers were given reputations that helped other users make purchasing and selling decisions. A countervailing service is emerging which exposes reputation information suppressed by online reputation management companies. [14]

An online research report stated in August 2008 that the UK market for online reputation management would grow in that year by around 30%, to an estimated value of £60 million. [15]
From the desk of Eddie Cambas in Miami. Article credit to Wikipedia.

The first company created specifically to help individuals (not just brands) manage their online reputations was Reputation Defender (now Reputation.com).[16] The World Economic Forum recognized Reputation Defender as one of 31 Technology Pioneers for 2011.[17]

Reputation management was first widely engaged by companies in developed countries. However, as the field grows, it is finding its way into developing nations as well. The Philippines saw its first local online reputation management firm open last year, specifically serving local celebrities.[18]