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Google Wave latest application for communication and collaboration on the web which combines file sharing, Twitter-like and Facebook-style features all with real time collaboration will be coming later this year.

Watch “Google Wave”

Google Wave combines Twitter,email,Facebook and Flickr in one onscreen….

“Here’s how it works: In Google Wave you create a wave and add people to it. Everyone on your wave can use richly formatted text, photos, gadgets, and even feeds from other sources on the web. They can insert a reply or edit the wave directly. It’s concurrent rich-text editing, where you see on your screen nearly instantly what your fellow collaborators are typing in your wave. That means Google Wave is just as well suited for quick messages as for persistent content — it allows for both collaboration and communication. You can also use “playback” to rewind the wave and see how it evolved.”

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Google Wave

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