Moments ago, Microsoft officially released its new cloud-based Office product, Office 365, which will compete directly with Google Docs.
The Office 365 suite, which has been in public beta for awhile now, is being targeted at the enterprise market and plans for the entire suite cost between $10 and $27 each month depending on the feature set chosen.
Source:
http://www.bgr.com/2011/06/28/microsoft-launches-cloud-based-office-365/
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