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Why that cheap 'lifetime cloud storage' deal might cost more than you bargained for

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Some companies are offering a large amount of data storage for very little money. What happens to your data if they go out of business?
In small amounts, cloud storage is fairly inexpensive. You can even get a few gigabytes of free storage with most office plans. But once you start to grow your cloud storage needs into the terabytes, the dollars begin to add up.
All that said, there is a way to get really inexpensive backup. All you have to do is look around for some deals. I found three that offer 5-10TB with a single 1-time lifetime purchase. Sound too good to be true? These offers probably are.
In this article, I’ll deconstruct what I could find out about each of these three plans. After that, I’ll share with you my recommendations, along with the caveats you should consider before giving up your bucks for a plan that seems too good to be true.
It’s not a bad deal, especially since the regular prices published on the Degoo site are considerably more expensive.
So who is Degoo? The company’s About page says it’s located in Sweden. Seriously. That’s about it. There’s virtually no content on the About page about Degoo. Disturbingly, a Google search for Degoo shows this:
I don’t know about you, but Fake Storage Solutions, Inc. doesn’t inspire confidence. More to the point, while the company has 1,221 Google reviews with a 4.6 average, a whole bunch of the reviews presented were one-star reviews with complaints. To be fair, there were also a substantial number of five-star reviews.
The second interesting indicator is a Google profile on the company. Google did a case study on the company, although it’s not clear when the write-up was published. Interestingly, this tells us that Degoo is using the Google Cloud for storage and it has nine million users.
Even so, Degoo’s unlimited deals don’t come close to covering their costs for storage. Keep that in mind as we move on.
As with Degoo, Prism’s regular pricing is substantially more expensive.
My initial web search didn’t turn up a Fake Storage company for these folks, but there was a Reddit thread where a participant who apparently lives near the posted address for the company in Santa Ana, CA says it’s a virtual office, with no permanent tenants. That’s essentially hearsay, but it’s worrisome.
Then, there’s the Trustpilot rating of 1.3 out of five. The leading review is «This is absolute crap.»
There is no About page.

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