Sneak peek: This is Kim Dotcom’s new Megabox service

MegaUpload is still down, but its founder Kim Dotcom is apparently already working on the next cloud storage service. Dotcom shared a first sneak peek on his upcoming cloud music service MegaBox this week, promising free unlimited storage and a disruption of the music biz.

Rewind: This week’s 11 must read stories

What a week! Web took to activism and pushed back SOPA & PIPA; Kodak filed for bankruptcy & MegaUpload got busted. With the week wrapped up, here are some of the posts from our team that I highly recommend you give a read.

Breaking: MegaUpload shut down, founder arrested

The FBI has shut down MegaUploadcom with help of law enforcement agencies around the world. The bureau also indicted seven people involved with MegaUpload, including the company’s founder Kim Schmitz. Four of the seven have been arrested, but it’s unclear whether Schmitz is also in custody.

RapidShare nixes plans for movie download store

Paid movie downloads won’t be coming to RapidShare any time soon: The file host has abandoned its plans to launch a download store with Hollywood fare. But fear not: RapidShare competitor MegaUpload is apparently working on a commercial movie download venture of its own.