This exploratory study investigates the potential of Wiki technology as a tool for teaching and learning. Wikis are a component of Web 2.0 technology tools that provide collaborative features and active learning opportunities in a web-based environment. This research study sought to empirically determine the pedagogical value of using Wiki technology in university courses. An instrument comprised of four constructs: Learning/Pedagogy, Motivation, Group Interaction, and Technology was developed and tested using reliability and validity as being capable of assessing student perceptions of value of Wiki technology. Hypotheses were tested to determine if factors such as age, gender, work experience, and web development experience influence students' satisfaction with Wiki technology. Best practices for using Wikis in the classroom, student concerns, and lessons learned by the researchers when implementing Wikis for instruction are discussed in this study. The authors hope that understanding the use of Wiki technology will provide practitioners and researchers an opportunity to develop pedagogically effective Wiki learning environments. (Contains 4 tables and 2 figures.)