Microsoft's hosted SharePoint is typically bundled in Microsoft 365 subscriptions, but can be licensed separately. SharePoint Online has the advantage of not needing to maintain one's own servers, but as a result lacks the customization options of a self-hosted installation of SharePoint.
It is limited to a core set of collaboration, file hosting, and document and content management scenarios, and is updated on a frequent basis, but is typically comparable with SharePoint Enterprise. Currently, additional capabilities include: