The basic purpose of the article is to present the new evolutionary trends regarding entrepreneurship and innovation in the Internet age. Evolution is a general-purpose algorithm for finding innovative solutions to complex problems. It is a learning algorithm that adapts to changing environments and accumulates knowledge over time. New companies, like Facebook, Uber, or Airbnb, are good examples of evolutionary paradigm in business of the Internet age. The article consists of four sections. In the first principles of evolutionary paradigm have been presented. The second section describes new trends and business models possible in Internet environment. In the third section coopetition based on sharing with competitors is presented. The fourth section discusses how contemporary companies use Internet for value creation.