Search giant Google's
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
Box.net similarly took aim at Microsoft
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.
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Fool contributor Evan Niu owns shares of Apple and Amazon.com, but he holds no other position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Google, Amazon.com, Microsoft, and Apple. Motley Fool newsletter services have recommended buying shares of Google, Amazon.com, Microsoft, and Apple and creating bull call spread positions in Microsoft and Apple. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.