As part of its plan to offer cloud-based versions of most of its software, Microsoft has announced Visual Studio Online, a suite of developers tools that runs on the Azure cloud computing platform. A key component of Visual Studio Online is Monaco, a cloud-based IDE with some of the features of Visual Studio. It also includes a source control system with capabilities similar to Team Foundation Service, a hosted build service, a hosted testing service and a hosting application monitoring service.
For now, Visual Studio Online is available as a public preview. The final version of the product will be free for teams of up to five users.