Google Wave
Google Wave is a new model for communication and collaboration on the web that was released as a limited beta on 1 October 2009.
Google wave is part e-mail, part instant messaging & part wiki. Users can communicate and work together with richly formatted text, photos, videos, maps, etc. Any participant will be able to reply anywhere in a message, edit the content and add participants at any point in the process. A playback feature lets anyone rewind the wave to see who said what and when. When something is typed or added to a wave it is immediately visible to all participants.
Example Wave
To edit the wave below just double click in the main window.