Silber, also mention that the closing the one cloud store was a tough decision. Now the company is mainly focusing in developing operating system for phones, tablets and desktops. Recently company have announced budget smart phone who have edge design and much like by users.
Earlier Ubuntu One is offering 5GB of cloud storage along with the online music streaming and a music store. As recently other cloud storage service providers like Google, Microsoft, Dropbox have lower its storage price with 25 GB to 50 GB of free storage on registration, makes the Ubuntu One to quite from this race. Ubuntu can't afford this much offer at low cost an hence decided to shutdown.
"if we offer a service, we want it to compete on a global scale, and for Ubuntu One to continue to do that would require more investment than we are willing to make."User who already had a subscription will get back there money and moreover Silber says, source code of the service will be released as an open source software.