Search giant Google's (Nasdaq: GOOG ) unrivaled moat continues to get wider and wider. Each of Big G's various free services incrementally adds to its moat and allows it to keep pitching ads at you while learning more about your deepest, darkest secrets.
It's actually surprising that the newest one has taken so long (after years of speculation) to see the light of day, and in the meantime rivals have gained traction with similar services so Google will have its work cut out with this one: Google Drive.
While Google has a small fleet of automated cars that can drive themselves, Google Drive has nothing to do with letting you snooze while you turn on the autopilot in a robotic vehicle. Google Drive is about cloud storage.
It's a multi-platform service that will store all your files while including features like syncing and collaboration. It also taps into Google's already popular Google Docs services. Google Drive will come with 5 GB of storage for free, with additional pricing tiers for additional capacity.
This is not a new scene, mind you. Startups like Dropbox and Box.net have gathered tremendous momentum in this realm. Years ago, Dropbox even turned down a nine-figure acquisition offer directly from Steve Jobs as Apple (Nasdaq: AAPL ) was building what would become its iCloud service. After getting spurned, Jobs politely told Dropbox co-founder Drew Houston he was going after their market.
Box.net similarly took aim at Microsoft (Nasdaq: MSFT ) SharePoint and continues to gain traction in the enterprise. Mr. Softy also offers its consumer-oriented SkyDrive service. Amazon.com (Nasdaq: AMZN ) also launched its Cloud Drive last year along with its cloud music service.
So Google Drive is facing stiff competition from Dropbox, Box.net, Apple iCloud, Microsoft SharePoint/SkyDrive, and Amazon Cloud Drive, among many others. It's clearly a crowded space to muscle into, but that's precisely what Google has always been good at.
Cloud services are just one technological revolution happening right now, but there's an entirely new one developing as we speak in data mining and business intelligence. There's only One Stock You Need to Profit From This New Technology Revolution, as the enterprise has a nearly insatiable need to sift through the massive amounts of data being produced. Get the free report now.