Folksonomies are Web 2.0 platforms where users share resources with each other. Furthermore, they can assign keywords (called tags) to the resources for categorizing and organizing the resources. Numerous types of resources like websites (Delicious), images (Flickr), and videos (YouTube) are supported by different folksonomies. The folksonomies are easy to use and thus attract the attention of millions of users. Together with the ease they offer, there are also some problems. This thesis addresses different problems of folksonomies and proposes solutions for these problems. The first problem occurs when users search for relevant resources in folksonomies. Often, the users are not able to find all relevant resources because they don't know which tags are relevant. The second problem is assigning tags to resources. Although many folksonomies (like Delicious) recommend tags for the resources, other folksonomies (like Flickr) do not recommend any tags. Tag recommendation helps the users to easily tag their resources. The third problem is that tags and resources are lacking semantics. This leads for example to ambiguous tags. The tags are lacking semantics because they are freely chosen keywords. The automatic identification of the semantics of tags and resources helps in reducing problems that arise from this freedom of the users in choosing the tags. This thesis proposes methods which exploit semantics to address the problems of search, tag recommendation, and the identification of tag semantics. The semantics are discovered from a variety of sources. In this thesis, we exploit web search engines, online social communities and the co-occurrences of tags as sources of semantics. Using different sources for discovering semantics reduces the efforts to build systems which solve the problems mentioned earlier. This thesis evaluates the proposed methods on a large scale data set. The evaluation results suggest that it is possible to exploit the semantics for improving search, recommendation of tags, and automatic identification of the semantics of tags and resources.