On Monday, the encrypted cloud storage Wuala announced that its rolling down its shutters for reason unknown.
The Zurich-based cloud storage startup Wualu was acquired by the hardware storage company in 2009. Rather than a planning its growth and scaling up its decision to exit seemed to make more meaning for the reputed hardware storage maker acquiring an expert in cloud storage software. But during that period, the deal was discussed to be a merger rather than an acquisition. The deal was said to help LaCie move from a traditional hardware manufacturer to a ‘digital storage provider.’ But things changed overtime.
In the blog post Wuala announced to its customer, “Effective as of today, you will no longer be able to purchase storage or renew existing accounts. Full account service will continue through 30 September 2015, at which point all active accounts will shift to read-only mode. Effective Sunday, 15 November 2015, the Wuala cloud service will terminate.”
Wuala has asked its customers to get a back up of their data or recommends transfer the data to its peer Tresorit. The refunds are expected to happen via the PayPal account that is connected to the Wuala account email address but the amounts of inactive subscribers and subscriptions less than 10 euro or dollar would not be refunded.