Storage startup company Space Monkey is challenging cloud storage services like Dropbox (which seems to be doing pretty well). With people storing more and more videos and images and other multimedia, it becomes increasingly expensive to keep that data in someone else’s cloud, and increasingly slow to push those files through your Internet connection.
Space Monkey, wants to combine the benefits of local storage and the cloud. Customers get a 1 terabyte hard drive, which means you can always access your files without dealing with your Internet connection. At the same time, the drive is connected to a peer-to-peer network, and copies of your files are also distributed in chunks to other devices. (They’re encrypted for security purposes.) The network allows you to access your files remotely, and also provides a backup in case your local storage fails — the company says more than half the network would have to go down before files are lost.
The company plans to start shipping devices this summer. It will charge a subscription fee of $10 a month (no extra charge to rent the hard drive). It’s also accepting pre-orders from 1,000 customers who want to pay for two years upfront — those early adopters get to keep the hard drive outright. This however seems to be a US only offering at the moment but we will update all readers if this service is rolled out to the world.