Web2's data collaboration paradigm led to powerful intermediaries that amassed significant market power by gathering user data from popular services, resulting in large corporations like Google and Facebook. However, this concentration of power has raised concerns about monopolistic behavior and data vulnerability. In response, Web3 aims to decentralize data collaboration using blockchain technology, but its adoption is challenging due to disruptions to existing workflows. Privacy Enhancing Technologies (PETs) offer an alternative by facilitating secure data collaborations on Web2 without intermediaries gaining market power, introducing a concept referred to as Web2.5. PETs, which include methods like fully homomorphic encryption and differential privacy, enable privacy-preserving data management and analysis, allowing industries such as healthcare to conduct essential data collaborations without compromising data control. While Web3 promises decentralized solutions, Web2.5 provides a practical and less disruptive path for secure data collaboration today, leveraging existing Web2 infrastructures and offering immediate benefits across various sectors.