Swiss file hosting service RapidShare is downing its shutters on March 31 after about 12 years of operation. It appears that the company’s attempt to stay relevant as a cloud storage service in recent years was unsuccessful.

Many players including Dropbox, Google and Microsoft offered online storage for personal use at significantly lower prices. For comparison, RapidShare charges roughly $680 per year for 300GB of space; Dropbox charges just $99 a year for 1TB.

RapidShare [via TechCrunch]