W3C stands for World Wide Web Consortium, is responsible for producing the software standards for world wide web.
The W3C was created in October 1994, to lead the world wide web to its full potential by developing common protocols that promote its evolution and ensure its interoperability.
Basically, the W3C is an industry consortium that seeks to promote standards for the evolution of the Web and interoperability between WWW products by producing specifications and reference software. Although industrial members fund W3C, it is vendor neutral, and its products are freely available to all.
The Consortium is international, jointly hosted by the MIT Laboratory for Computer Science in the US and in Europe by INRIA who provide both local support and performing core development.
The W3C was initially established in collaboration with CERN, where the Web originated, and with support from DARPA and the European Commission.