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Launched in late 2010, allowed for the uploading of images, competing with other image-hosting services such as Photobucket, ImageShack, TinyPic, Imgur and others. For non-members, it was time-limited it blocked itself after 72 minutes, and then allowed users to resume watching after a 30-minute period. was an associated, ad-supported video hosting service. Two additional services-Megabackup and Megamovie-were in development before their closure. Along with this, four blogs were created including Megabest and Megaking. Other services included Megaclick, Megafund, Megakey and Megapay, all of which were advertisement and financial services. The company web services included, a one-click hosting service, an image hosting and, video hosting services and, a music hosting service. The company's registered office was on the 12th floor of the Shanghai Industrial Investment Building in Room 1204 in Wan Chai, Hong Kong.

5 2012 indictments by the United States.

The re-launch date was chosen to coincide with the one-year anniversary of Megaupload's takedown by the U.S. On 19 January 2013 ( ), Megaupload was re-launched as Mega under the domain name .nz (later moved to mega.nz, and then to mega.io). government and copyright organizations by the Hacktivist group Anonymous. The shutdown of Megaupload led to denial-of-service (DoS) attacks on a range of websites belonging to the U.S. His lawyer said they would appeal to the New Zealand Supreme Court.

On 5 July 2018 the New Zealand court of appeal found Dotcom and three of his former colleagues were eligible to be extradited to the U.S. In 2017, a New Zealand judge ruled that Dotcom should be extradited to the United States, but Dotcom remained at liberty in New Zealand pending the results of an appeal. The company's founder, New Zealand resident Kim Dotcom, has denied any wrongdoing, and the case against Dotcom has been the subject of controversy over its legality.

Subsequently, HK$330 million (approximately US$42 million) worth of assets were frozen by the Customs and Excise Department of Hong Kong. On 19 January 2012, the United States Department of Justice seized the domain names and closed down the sites associated with Megaupload after the owners were arrested and indicted for allegedly operating as an organization dedicated to copyright infringement. Megaupload Ltd was a Hong Kong-based online company established in 2005 that operated from 2005 to 2012 providing online services related to file storage and viewing.