In Mandarin Chinese, 网 (Pinyin: wǎng 🔊) means “net” or “web”. Note the tonal difference between 网 and 王 (wáng). Naturally, nowadays this word has acquired the modern meaning of “network”, as in information or communication network. Rather unsurprisingly, 网 is short for 互联网 (Hùliánwǎng), “the Internet”.
网 is a simplified form of 網. In this particular case, the simplified character makes more sense than a traditional one — I don’t know what exactly the ancient Chinese had in mind but I like to think of 网 as a doodle of a goal net.