The founders of GrabCAD, Hardi Meybaum and Indrek Narusk previously ran a product development company, where they realized how much of engineers’ time is wasted on simple, repetitive and often unnecessary tasks and how their work processes could be optimized by developing a unified CAD services marketplace, cross-platform CAD library and engineering community. This led them to start GrabCAD in 2009. The company is based in Tallinn, Estonia.
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I’ve used http://www.3dcontentcentral.com/Default.aspx It has a similar concept and you can download the files in different formats. It is also free but requires a free login.
3dcontentcentral is mainly meant for solidworks. GrabCAD does not limit itself with specific software.