Yahoo just bought Tumblr but it didn't forget about Flickr, as the service got a "spectacular" redesign with major upgrades and 1TB of free storage.

While the Tumblr acquisition is definitely a major move heralding good things to come for both companies, Flickr has plenty of goodies as well. First off, all Flickr users will be able to enjoy a massive 1TB of free storage space. That's right, one T-E-R-A-B-Y-T-E, or 1000 GB of free storage space.

Users with free accounts were previously limited to 2 videos and 300MBps worth of photos per month. With the new 1TB of free space, users can now upload countless photos and videos, including images up to 200MB and videos of up to 1GB and three minutes in length. Another neat thing worth noting is that the service will store all photographs at full resolution and in their original quality. The paid service, meanwhile, will allow users to enjoy Flickr without any ads for $50 a year. Those willing to pay $500 a year will be able to enjoy double storage space, i.e. 2TB.

In addition to the greatly expanded storage capacity, Flickr also rolled out a brand new design to its website. Flickr is a photo-sharing website, so it's only natural that photography lay at the core of the Flickr experience.

The site's new user homepage now serves as a portal for finding new content, allowing users to see their friends' latest uploads and photos from other members of the Flickr community.

The new photostream pages, meanwhile, now sport a slick new design similar to Google+, boasting much larger photos on a new seamless layout. Users will also have free space for a cover photo and a high-resolution profile picture. Flickr also displays much bigger photos now, allowing users to share their experiences through photo collections. The site also added a new slideshow mode, which features new transitions as well as face detection technology to highlight key elements of displayed photos.

"In the beginning, Flickr innovated the way people share and discover photos. Today, we are shifting the photo-sharing landscape again," Flickr boasts in a blog post. "We're releasing a Flickr that's more spectacular, much bigger, and one you can take everywhere."

"A better Flickr is here. And not a moment too soon," adds the announcement. "With all of the power that you love, Flickr is now in its most beautiful form, and available to everyone."