Cloud storage provider Zoolz has sent an email out to customers telling them its home cloud backup (opens in new tab) service will be discontinued with immediate effect, so the company can better focus on the business market.
It seems the 15-year old SaaS company - which sat third in our best cloud storage (opens in new tab) guide - underestimated the challenges of the consumer cloud backup market.
Understandably, smaller companies have a tough time grappling for market share with the likes of Box (opens in new tab), Dropbox (opens in new tab), Google Drive (opens in new tab), Microsoft OneDrive (opens in new tab), Apple iCloud (opens in new tab) and Amazon Drive (opens in new tab). Even players as large as Samsung (opens in new tab) have had to close down their cloud storage offerings.
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“The cloud backup market is a competitive one. We entered it 15 years ago with the hope that we could make it accessible to anyone, both business and home users," wrote Zoolz in a statement.
"Even with the many changes we’ve made to how we structured our cloud backup services, we’re unable to competitively service the consumer market.”
Zoolz users will have 14 days to retrieve their data while refunds are processed. As a sweetener, the company will offer 5TB storage (opens in new tab) to anyone that wants to migrate their home account over to the business plan for £90/$120.
The company - which reportedly manages more than 20PB of data and three million users - will double down on b2b offerings with a new multi-tenant system, disaster recovery and Microsoft 365 business backup.
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