The product development team was no more. As of mid-March, RapidShare was reported as operating with only one employee, a support person who answered the telephone and managed customers and accounts. The rest, save one, had their contracts terminated. In late February 2014, the website PCTipp.ch, based on reports from a former RapidShare employee "MarkusP," stated that RapidShare had presented a "quit or be fired" ultimatum to 23 of its 24 employees (already down from 60 employees just two years before) and that most had resigned. By 2014 its Alexa ranking had sunk below 1,400. The company changed its focus to B2B cloud storage services, but a drop in revenue led to a reduction in staffing by three quarters in May 2013. Lawsuits by the owners of copyrighted content shared via RapidShare, and the takedown of file hoster Megaupload, caused RapidShare to revise its business model. In 2010, RapidShare was said to have hundreds of millions of visitors per month and to be among the 50 most popular Internet sites. Files hosted on were no longer available for download. On 1 March 2010, was shut down, and users visiting the site were forwarded to. It operated in parallel with for several years. Schmid avoids the public eye, but took over management of the company after longtime CEO and COO Bobby Chang left in April 2010. In 2004, he started the company RapidShare AG, which went online in August 2004 then moved its premises to Baar, Switzerland in 2006.
RapidShare was founded by Christian Schmid in Mulheim, Germany, initially as ezShare later Rapid Share, a file hosting service for his RapidForum web forum hosting services. As of 2017, Rapidshare AG was acquired by Kingsley Global. Its popularity fell sharply as a result and, by the end of March 2015, RapidShare ceased to operate and it is defunct.
Following the takedown of similar service Megaupload in 2012, RapidShare changed its business model to deter the use of its services for distribution of files to large numbers of anonymous users and to focus on personal subscription-only cloud-based file storage. In 2009, it was among the Internet's 20 most visited websites and claimed to have 10 petabytes of files uploaded by users with the ability to handle up to three million users simultaneously. RapidShare was an online file hosting service that opened in 2002.
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