Kingsoft spins off online storage business, establishing Kingsoft cloud company

Kingsoft announced Tuesday to spin off its online storage business “Kuai Pan” and set up an independent subsidiary “Kinsoft Cloud” focusing on cloud storage market.

The CEO of Kingsoft, Zhang Hongjiang (张宏江) will be the CEO of Kingsoft Cloud concurrently. This move is the first Major structural adjustment since he became the head of the company in last October.

Mr. Zhang noted that the online storage will become the core business of Kingsoft Cloud, and Kingsoft will mainly invest in cloud computing. The products of online storage division will expand to more platforms and cooperate with upstream and downstream manufacturers.

The users of Kingsoft online storage product “Kuai Pan” have passed over ten million since its public test in July, 2010. Uploaded files have amounted over ten billion, with total space of 4PB.

Leave a Reply