Microsoft OneDrive (formerly SkyDrive) is a personal file hosting service that allows users to upload and sync files to their OneDrive. The OneDrive application creates a OneDrive folder on your computer that automatically syncs. Simply copy files into your local OneDrive folder and they will automatically sync. Files up to 300MB can be uploaded via a web browser or up to 2GB via the OneDrive application.
You can also create Word, Excel, and PowerPoint documents with OneDrive, and then share them with Hotmail. Your contacts will get an email that lets them access the documents on OneDrive - and even help you edit them - even if they don't have the latest version of Office. OneDrive gives an amazing 7GB of free online cloud storage. You can use OneDrive to back up your photographs or documents, or even make them public and share a folder with friends.