This paper proposes a theoretical framework as a foundation for building online communities of practice when a suite of social networking applications referred to as collective intelligence tools are utilized to develop a product or solutions to a problem. Drawing on recent developments in Web 2.0 tools, research on communities of practice and relevant theories of learning, and the authors' own action research experience in collaborative knowledge creation utilizing Web 2.0 tools, this paper discusses a learning community's spiraling process as it moves from a given sociocultural context through discourse, action, reflection, and reorganization toward socially mediated metacognition. (Contains 1 figure and 2 tables.)