Apart from the OneDrive rebranding, Microsoft is also planning to rebrand its Office Web Apps service to Office Online. Office Online will offer online light-weight versions of Word, Excel, PowerPoint and OneNote that can be accessed from a browser where you want. Office Online will offer full compatibility with your Office documents. Office Web Apps are free touch-friendly web applications that let you create, edit and share your Excel, Word, PowerPoint and OneNote files from any browser. You can share and simultaneously work on your documents with classmates, friends and co-workers. No need to merge different versions later.
From the chart above, it’s clear Microsoft is going to try to make Office Online more discoverable and understandable by the general public. It also seems that Microsoft considers this Office Online rebranding part of Microsoft’s next Office wave (codenamed Office 16), give that “O16″ is part of the URL path for the new compare site.