Windows Live Folders Coming Soon

Microsoft is coming up with a new online service called Windows Live Folders, which is in the early beta testing stages now. According to the features listed on the site, for each folder you create, you choose who has access to it. Add new folders, rename them, or change who has access at any time.

The features:

500 MB of free online storage, available from any computer with Internet access.
Create personal, shared, and public folders — you decide who has access to each folder.
Folders work well on any Windows or Macintosh computer with Firefox 1.5 or higher, or Internet Explorer 6.0 or higher.
It is currently under limited beta abd is expected to open up for more beta accounts soon.