The aim of this paper is to identify and understand the risks and issues companies are experiencing from the business use of social media and to develop a framework for describing and categorising those social media risks. The goal is to contribute to the evolving theorisation of social media risk and to provide a foundation for the further development of social media risk management strategies and processes. The study findings identify thirty risk types organised into five categories (technical, human, content, compliance and reputational). A risk-chain is used to illustrate the complex interrelated, multi-stakeholder nature of these risks and directions for future work are identified.