BusinessInsider:

Business Insider has learned that Serlet has spent much of the time since his departure from Apple working with at least two other former Apple employees to launch a cloud computing startup in downtown Palo Alto called Upthere.
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Based on the job postings we've seen, it's clear the startup is looking to rethink the way people store files in the cloud, though just how this service will compare to options like Dropbox or Apple's own iCloud feature remains unclear. At the moment, the only trace of the startup's efforts is a static webpage with the company's logo.