Google drive allows for collaborative work instant sharing of information.
When I first started using (what was then called) Google Docs, I loved it. It allows multiple students access to a document whether to edit it or just to view it. Groups can collaborative create and edit. There can see who is logged in and who is editing the document as they edit it. There is even a place to chat where I can be involved if I am looking at their page and offer help. There is even a place to use Comments just like in Word.
What I don't like about it is that Google wants to connect all parts of your life to your account. I also don't like that students have to have a cell phone now to create an account. When I first used this with my classes all students could have an account. Now I just use it to share information because not all of my students have a cell phone.
How I Use It
If all students are able to create an account, I use it for collaborative learning or for different students to type in at the same time for whole group activities. I also use the Presentation part of it to share daily "white board" information such as bell work and notebook information. This allows students who are not there to instantly be able to update their notebooks, or gives students who need to catch up a chance to do so outside of the classroom. I like this with my Edmodo account.