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Users will have the ability to upload any file up to 250MB, with a total of 1GB of free storage for files that aren't of the Google Docs format. Beyond that, Google will offer additional space for $0.25 per GB per year. Shared folders can be used for the organization and collaboration of files, while a search function and the Google Docs viewer should help with finding recently uploaded or shared files.
Google will gradually introduce the service to accounts over the next couple of weeks, and the company welcomes all feedback.