There is no doubt in the fact that Dropbox is one of the most popular file storage services on the internet. It is used by millions of people and countless businesses around the world, its wide availability across majority of the platforms powering mobile and desktop devices out there is just one of the reasons why it is so popular. Dropbox announced a new change today that many of its users have been asking for, the service has slashed its prices.

Its no surprise to see Dropbox respond with revamped pricing. Rivals like Google Drive and Microsoft OneDrive have been nipping at its heels with better prices, forcing Dropbox to respond to ensure that users don’t migrate.

Previously Dropbox offered 100GB of storage for $9.99 per year. The maximum that individual users could get was 500GB which cost a staggering $500 per year. Today the company announced Dropbox Pro. Aimed at individual users the new offering comes with 1TB of space for just $9.99 per month. Now there’s one single plan only, thus simplifying all of the offerings that Dropbox was previously selling.

Dropbox Pro also includes features like passwords for shared links, expirations for shared links as well as view-only permissions for shared folders. The remote wipe feature will allow users to delete their Dropbox files on a stolen or misplaced device while backing them up in Dropbox.

The new service is live now.

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