RapidShare, an iconic file-hosting service announced that it will be shutting down its service on March 31 2015. It advices all its customers to secure their data prior to the date since all accounts will no longer be available and be deleted automatically.
The company was launched in 2002 and become one of the most infamous file-hosting website. It was used to host copyrighted materials – the reason why it faced numerous legal battles with copyright infringement. Later on, it was ordered by the court to monitor the usage of their customers.
The company rebrands itself and enters the cloud storage market. But it cuts its workforce by three quarters in 2013, and removes its free service in 2014. It seems that they failed to continue business due to the extremely dynamic competitive cloud storage market.