Why is Ubuntu One going to be shut down? [closed]

I just received an e-mail from Canonical warning me that the Ubuntu One service is going to shutdown. Is this real? Has anyone else got the same e-mail? Why is this happening?

Any information would be appreciated :S

Email:

Hi,

We are writing to you to notify you that we will be shutting down the Ubuntu One file services, effective 1 June 2014. This email gives information about the closure and what you should expect during the shutdown process.

As of today, it will no longer be possible to purchase storage or music from the Ubuntu One store. The Ubuntu One file services apps in the Ubuntu, Google, and Apple stores will be updated appropriately.

As always, your content belongs to you. You can simply download your files onto your PC or an external hard drive. While the service will stop as of 1 June, you will have an additional two months (until 31 July 2014) to collect all of your content. After that date, all remaining content will be deleted.

If you have an active annual subscription, the unused portion of your fees will be refunded. The refund amount will be calculated from today's announcement.

We know you have come to rely on Ubuntu One, and we apologise for the inconvenience this closure may cause. We've always been inspired by the support, feedback and enthusiasm of our users and want to thank you for the support you've shown for Ubuntu One. We hope that you'll continue to support us as together we bring a revolutionary experience to new devices.

The Ubuntu One team

Yes, it is real.

For more information you can read Canonical's Blog about it.

http://blog.canonical.com/2014/04/02/shutting-down-ubuntu-one-file-services/