From the 'Linux monetization strategy' files:

Ubuntu is well known as a freely available Linux distribution. It could also one day be your personal data synchronization system too. That's right Ubuntu is expanding its business model with a new data sync/backup service now in beta, called UbuntuOne.

The first 2 GB of storage are free (which is kinda of like EMC's Mozy service), and then a 10 GB monthly storage plan is $10 US per month.

While the idea of online storage sync is hardly a new one, it is a great idea to have this available under the Ubuntu brand and as a fully integratable Ubuntu LInux application (PPA) for backup sync. I've used a basic rsync across machines myself, but UbuntuOne promises a web based interface to access files as well as being able to provide syncronization across machines. I haven't actually tried out the service yet (it's invitation only and my invite hasn't arrived yet).

While some Ubuntu users (moreso on the server side) will pay canonical for support, I suspect that Ubuntu's path to profit on the desktop side will come in part by way of UbuntuOne. It's a service that everyone needs, the only question is whether or not Ubuntu users go with UbuntuOne or do it themselves.

I have not seen any other Linux distribution with a similar effort, though I would expect that Mozilla will eventually do something similiar with its Weave services backend. UbuntuOne isn't just about browser data though it's about whatever data  a user wants to backup/sync.