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iForem: pay once, get online storage solution forever
iForem has come up with a way to eliminate the monthly fees for its online backup storage site. It just charges a really high price up front. We're talking $20 for 20MB of storage, or $1024 for 1GB. Sure, you can get storage from services like Mozy and Carbonite for a fairly low monthly fee, but if you stop paying, you lose your storage.
What makes iForem's model unique (beside the high price) is a guarantee that your data will always be available. The idea is that iForem will take your ridiculously high up-front payment and invest it in a trust. As your money makes money for the company, some of that revenue will be pumped back into server space, security, and all the other things you'd want from an online storage site. Over time, as your friends continue to pay monthly fees to their online backup companies, you'll (theoretically) realize that they've paid more money over the years than you have.
But the way we see it, there's at least three problems:
- You can already get 5GB for free from services like Xdrive.
- 1GB in 20 years will probably seem pretty tiny.
- If the company goes under in less than 15 years, you're not going to get your money's worth.
Comments
5
Subscribe to commentsRobSep 25th 2007 12:41AM
Atrociously poor business model.
Asking WAY too much money for so incredibly little space.
I can't believe I'm commenting on this,.. that's how ridiculous this is.
AaronSep 25th 2007 1:32PM
Or, you can use Box.net for 1gb of free storage for life.
So whats the point?
They want $1024 for 1gb...Box.net wants $0...
And Im far more likely to think box will be around than iForem
queSep 25th 2007 4:32PM
hahahahahahahahahahaah
StanFeb 24th 2008 10:59AM
Comparing this to storage sites is missing the point. You wouldn't compare the cost of storing your living trust agreement in your lawyer's office with the cost of storing files in your own file cabinet. You aren't supposed to dump your photo albums in iForem. Plenty of cheap places to do that. 5 - 10 megs is about all that most people need to store away critical documents such as wills, lists of passwords, locations of secret keys, etc. Included in the one-time fee of $20 is ability for these documents to be automatically forwarded to designated email addresses upon an event such as death or a designated time. Automatic action can include auto-deletion at a certain date as well. iForem is a shared Perpetual Trust Service, not a shoebox for photos.
ParulOct 11th 2007 8:43AM
I think transferring files between computers can be very uneasy at times. IForem online storage service makes an attempt at excelling where other services have failed, the whole user experience.This platform is no doubt a complete standout as it carries much more than just the basic benefits provided by all the other online storage services.
http://bhopu.com/2007/10/11/-iForem-is-here-to-stay