Kingsoft Cloud Group, the cloud computing subsidiary of China-based Kingsoft, has formally launched its full cloud service platform, providing cloud hosting, cloud storage, cloud drives, and a database to developers.
Prior to this launch, Kingsoft Cloud service platform offered enterprise storage and network disk services.
Wang Yulin, president of Kingsoft, said during an interview that China has a huge potential cloud service market which can accommodate multiple vendors. Compared with its competitors, Kingsoft Cloud service platform has resource advantages in security, game applications, and smart device sectors.
Wang revealed that Kingsoft Cloud has formed a close cooperation relationship with Xiao router.
As a subsidiary of Kingsoft Group, Kingsoft Cloud was separated from Kingsoft's online storage business in February 2011. In November 2012, Kingsoft Cloud issued and sold 91 million shares to Xiaomi for USD0.02 per share, totaling USD1.82 million. On the completion of the deal, Xiaomi owned a 9.87% stake in Kingsoft Cloud. In August 2013, Kingsoft Cloud completed its first round financing of USD20 million.