We’ve heard about the Google Drive a few times over the past few years. The service has been real in the past and was used internally, but due to problems and it not being ready, it never made it public. This could be changing soon.
Google Drive is a service that is similar to Google Docs in that you can store documents and files within the cloud. What Google Drive will do is make it more noticeable to all users that they can store more than just the documents they edit within the cloud.
It is believed Google [GOOG] will work on a free storage allocation of a few GB that will grow larger over time. It would then likely include the Google Drive service to Google Apps users allowing even more space to store documents and files on the web.
release date of Google Drive is not known at the moment but with the screenshot spotted in a presentation above, expect it to launch soon.