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Jason Calacanis reports that Microsoft chairman Bill Gates just unveiled their Google Maps killer, complete with photos taken over cities at a 45-degree angle.

The maps also include satellite photos, like Google's, so Microsoft's has two very different real-world mapping views to Google's one. In addition, their product supports overlays, like Google Maps. More to come, so we'll have to see if their product is actually better. More here...

John Battelle has more. Called MSN Virtual Earth, Microsoft is tryign to mesh search and local/maps, like Google, although Gates notes Microsoft is simply coordinating projects which they started ten years ago. Besides local search results, you will be able to overlay weather patterns and traffic patterns over an area, as well as allow businesses and consumers to contribute their own information. There will be satellite images and 45-degree flyover images (called Eagle-Eye, pictured at right), as well as satellite/road hybrid maps, full-screen maps, and an online clipboard work area. The product should be available this summer.

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Nathan Weinberg writes the popular InsideGoogle blog, offering the latest news and insights about Google and search engines.

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