About Google Wave
Google Wave is a new model for communication and collaboration on the web, coming later this year.
Here's a preview of just some of the aspects of this new tool.
What is a wave?
A wave is equal parts conversation and document. People can communicate and work together with richly formatted text, photos, videos, maps, and more.
A wave is shared. Any participant can reply anywhere in the message, edit the content and add participants at any point in the process. Then playback lets anyone rewind the wave to see who said what and when.
A wave is live. With live transmission as you type, participants on a wave can have faster conversations, see edits and
If you'd like to be notified when Google team will launch Google Wave as a public product, you can sign up at http://wave.google.com/.
Official Google Blog: Went Walkabout. Brought back Google Wave.