For a while now, Google Docs has dominated the Online Office Suit which bundles a word-processing tool, spreadsheet editing, presentation functionality and more.
With the release of the the Office 2010 suite by Microsoft is adding its own online Office suite, and its going to be free. You won't have the need to buy Microsoft Office 2010 suite to use the online version. Microsoft will make the majority of Office functionality available for to anyone--whether or not you bought the new suit.
A cool feature of the online Office 2010 is the ability to broadcast a Powerpoint presentation across the Internet. Outlook will also feature a new Social Connector, which lets you sync contact data with popular social networks such as Facebook and MySpace, sharing status, pictures, shared documuments among others.
More information on Microsoft's SkyDrive website.
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