Google Wave is a product that helps users communicate and collaborate on the web. A "wave" is equal parts conversation and document, where users can almost instantly communicate and work together with richly formatted text, photos, videos, maps, and more. Google Wave is also a platform with a rich set of open APIs that allow developers to embed waves in other web services and to build extensions that work inside waves.
Developer Blog: http://googlewavedev.blogspot.com/2009/09/google-wave-in-internet-explorer.html
APIs: http://code.google.com/apis/wave/guide.html
Federation Protocol: www.waveprotocol.org
Plenty more details to follow
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