Teams that decide that they want to coordinate using SharePoint have a ton of options to do so. If the existing options don't quite do it for you, however, you can now set up a site for your team that can serve as a hub to work within. To help potential users get used to creating their own team sites through SharePoint, Microsoft has added a post to the Office blog that explains a bit about how it's done.
If you've ever needed to organize a team for any reason, whether it be for a school assignment or a team project at work, Microsoft seems convinced that this is going to be the tool for you. All you need to do is fill in some information, and you'll be ready to start collaborating online through SharePoint.
This functionality has now completely rolled out to every Office 365 First Release customer, so if you're one of them, you should give this a shot. Microsoft's full blog post pretty effectively holds your hand through the process.