Google Inc (NASDAQ:GOOG) reduced the prices for Google Drive monthly storage plans today. The base price of the search engine giant’s cloud service is significantly lower than its competitors including Dropbox and Microsoft Corporation (NASDAQ:MSFT)’s OneDrive.

Google Drive

Scott Johnston, director of product management at Google Inc (NASDAQ:GOOG) announced the Google Drive price reduction in a blog post. According to him, recent infrastructure improvements allowed the company to reduce prices for Google Drive, which was launched two years ago.

“Today, thanks to a number of recent infrastructure improvements, we’re able to make it [referring to Google Drive] more affordable for you to keep everything safe and easy to reach on any device, from anywhere,” said Johnson.

New prices

Google Inc (NASDAQ:GOOG) is now offering its Google Drive 100GB monthly storage plan for $1.99, down from $4.99.

Dropbox and Microsoft Corporation (NASDAQ:MSFT) are offering 100GB storage for $99/year and $50/year, respectively. Based on its $1.99 monthly price for 100 GB, Google Inc (NASDAQ:GOOG)’s price for the whole year is only $23.88.

Its 1TB storage plan was reduced from $49.99 to $9.99 per month. The search engine giant said its 10TB monthly storage plan cost $99.99. The company is still offering 15GB storage plan for free.

For those who wondering how big 1TB is or how much information they can save in it, Johnson explained, “Well, that’s enough storage for you to take a selfie twice a day for the next 200 years and still have room left over for… shall we say… less important things. Like before, storage continues to work across Drive, Gmail and Google+ Photos.”

Google Apps for Business Referral Program

Earlier this week, Google Inc (NASDAQ:GOOG) launched Google Apps for Business Referral Program. Individuals has the opportunity to earn $15 for every user they refer who would sign up and pay for the service for at least 120 days. The referral program is open for anyone based in the United States and Canada.

The Google Apps for Business is composed of different products and services such as Gmail, Calendar, Google Drive, Docs, Hangouts, Sites, Vault, Sheets, Slides, among others.