Yahoo added to its big news day by launching a completely revamped Flickr - or, as CEO Marissa Mayer called it, another Yahoo-acquired company that dropped the 'e' before the 'r'.

Yahoo acquired Flickr for $30 million in 2005, and Flickr's founders, Stewart Butterfield and Caterina Fake, had expressed the same joy and hope as Tumblr's founder likely does today.

Unfortunately, Yahoo let Flickr fall by the wayside. Despite having promised that the service would grow and change with its original management and team. An unnamed Yahoo employee even told Gizmodo on Monday that the company denied resources to Flickr because it simply didn’t "generate sufficient revenue".

Yes, Flickr has long been lumped together with Yahoo's other failed and pricey bets (GeoCities,, Overture), but can it get a second chance?

Today’s Flickr overhaul includes three key components: Spectacular, Wherevr and Biggr. The updates have slightly cheesy names, but they are also much-needed improvements.

The rebuilt Flickr chiefly offers a new desktop design that puts photos front and centre with a new stream that doubles as a collage-like scrolling gallery. Yahoo also created a slideshow that displays Flickr photos in full-screen. And, as part of the Spectaculr component, Flickr will now allow users to upload full-resolution photos that will also form the photo-filled user-experience.

Meanwhile, the Wherevr aspect simply means Flickr is now available on Google Play in 10 languages. The service’s popular iOS app was a huge hit when it landed earlier this year and even boosted usage by 25 per cent, so Yahoo hopes to now capture that same magic with Android users.

Yahoo also announced it would offer a whopping 1 terabyte of storage to every Flickr user free of charge. Flickr’s Biggr initiative essentially enables each user to upload approximately 537,731 photos in full, original quality. That's more than any other competing service.

The new and improved Flickr is a far cry from the white space, blue links and tiny thumbnails it was earlier on Monday, and it will be interesting to see how well it’s received and whether Yahoo plans to continue supporting it in the long run.

Also, in case you’re wondering, the updated Flickr does share to its new sister service, Tumblr.