This article traces the historical development of Digital Libraries (DLs), examines some DL initiatives in developed and developing countries and uses 5S Theory as a lens for analyzing the focused DLs. The analysis shows that present-day systems, in both developed and developing nations, are essentially content and user centric, with low level digitization projects in developing countries. Also, there is a lack of interoperability among the various types of DL initiatives. The article recommends investment in DL projects, digitization of print collection, as well as the development of standards that will address the problem of interoperability among the various systems.