Other words that will soon no longer produce a squiggly red underscore when typed include social networking, paywall, hot spot and hashtag, proving that we are now officially one with the internet.

"So many of these new words show the impact of online connectivity to our lives and livelihoods," explained Peter Sokolowski, editor-at-large for Merriam-Webster, in a press release. "Tweep, selfie, and hashtag refer to the ways we communicate and share as individuals. Words like crowdfunding, gamification, and big data show that the Internet has changed business in profound ways."

One new addition to the dictionary that should put a smile on MTV show's creators' faces is catfish, referring to "a person who sets up a false personal profile on a social networking site for fraudulent or deceptive purposes."