By Chris Woods Google is putting its money where its mouth is with a new initiative called online storage.
In the space of a couple of months, Google is announcing it will auction off a $4,5 billion online storage contract.
The auction will take place in the US, Europe, Australia, New Zealand, India and Japan.
The bidding is expected to close in early October.
Google is trying to capture a large chunk of the $9 billion that the online storage market is expected have in 2020, according to a report by Bloomberg.
The market is projected to grow by a third over the next three years.
In a press release, Google stated the auction is designed to help companies and consumers “develop and leverage their storage assets more efficiently.”
For example, the auction will help customers to “develop storage systems with lower upfront costs and lower maintenance costs,” according to the release.
It also “increases capacity for online services and makes it easier for businesses to scale their storage systems.”
Google also said it is looking to “expand storage storage capabilities in the coming years.”
“Today’s auction will be a major step toward this goal, as it is the first time the auction has been offered to a large company in the United States, with many of the companies vying for the contract,” the release said.
The auction is being conducted by the Digital Storage Association, a trade group that represents companies that buy and sell storage, among other things.
The group represents more than 2,400 storage companies.
It is expected that the auction would go live in early November.
While it’s still early days for the auction, it is expected it will attract interest from some of the biggest names in the storage space.
The biggest winners include Google, Amazon, Microsoft and eBay.
Microsoft said it will be the biggest winner of the auction and said it plans to use the money to hire more people in storage.
Amazon said it would be the first to receive the money and Amazon Web Services said it was looking to use it to create new jobs.
eBay is also looking to get involved and has already started hiring.
Google said it also plans to offer a $1,000 reward to anyone who gets the contract.
Google said it won’t disclose how much it’s offering for the online service, but the company said it expects to pay $300,000 for the first two years of the contract and $1 million per year thereafter.