The New York Times writes:
According to the Pew Internet and American Life Project, about 12 million Americans now maintain a blog. Widgets are elements, often in the left or right columns of a blog, that enhance its usefulness or aesthetic appeal. (The term widgets, confusingly, can also refer to compact applications that operate on a computers desktop.)
Widgets pull content or services from some other place on the Web, and put it into your personal page, said Fred Wilson, a venture capitalist at Union Square Ventures in Manhattan.