Outlook.com is a free online email, address book and calendar. It is owned by Microsoft. It was started in 1996 as Hotmail. Sabeer Bhatia and Jack Smith created it. In 1997, Microsoft bought Hotmail for about $400 million. They renamed it twice, to MSN Hotmail and Windows Live Hotmail. In 2013, Hotmail became Outlook.com.
Each user that signs up for a Hotmail account will get 5GB worth of storage space and 25GB of space on Windows Live SkyDrive (now OneDrive). Business and organizations can also get Hotmail for their own domain name.