Google Drive to Launch Next Week: Report
Google's online storage service Drive, offering 5GB of free storage to users, would challenge storage providers like Dropbox and Box.Google is gearing up to offer consumers and businesses Drive, an online storage service to rival Dropbox, as early as next week, according to a draft press release obtained by technology blog The Next Web. The service will offer users 5GB of storage for free, considerably more than the 2GB currently offered by Dropbox. According to the report, the service will work in desktop folders on both PCs and Macs, though it was unclear in which countries outside the U.S. the service would be available in. The release would pose a direct threat to companies such as Dropbox and Box, another online storage provider. Dropbox and Box are currently the top providers of Web-based object storage. Dropbox, which reportedly turned down a substantial offer to be acquired by Apple, had more than 45 million members who saved 1 billion files every few days through October 2011. The company has raised $250 million at a reported $4 billion valuation.
Box, which has turned down buyout offers, raised $35 million at a $550 million valuation last August. The company finished 2011 with more than 8 million users, and grabbed $129 million in funding in 2011 to fuel its enterprise expansion. In order to expand its business-class offerings, the company released OneCloud, a mobile cloud for the enterprise to unify business information across devices and applications. The platform launched in March and provides a suite of more than 30 productivity applications that enable workers to securely access, edit and share content from their mobile devices.