Supported by the financing, Kingsoft Kuaipan, a service under Kingsoft Cloud, offers a 100G free storage service to users, which was previously charged for 229 yuan ($37.12) per year (source in Chinese).
King Cloud is principally engaged in the business of cloud service platform, commercial and personal cloud storage. Launched in 2010, the company claims the individual users of Kingsoft Kuaipan amounted to more than 45 million as of April this year with millions of daily active users.
China’s free storage services are mainly focused on storage capacity under 15G. Domestic Internet giants, including Baidu and NetEase, all laid out in the sector.