In the world of file-hosting websites, one of the biggest had to have been Megaupload, although it suffered a shut down last year that has since sent owner Kim Dotcom scrambling to create a new portal for free file hosting. Kim Dotcom announced a new site, simply called Mega, will be launching on January 20, but today, he took to his Twitter to announce the new site will offer 50GB of online storage for free.

Compared to similar services like Dropbox (2GB), Google Drive (5GB) and Skydrive (7GB), Mega will offer the most amount of free online storage we’ve ever seen and one we’re sure the other mentioned services will not be matching any time soon.

In addition to that, Kim Dotcom also announced he and his team are currently working on giving previous Megaupload premium users the same status with Mega, although his lawyers say it isn’t possible at this time. Dotcom is also looking into getting the files back of Megaupload users as his team of lawyers are working to get those files back by seeking the court’s permission to transfer the data over.

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