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Melissa Mayer takes the stage at NYC's R Lounge in Times Square.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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Mayor Bloomberg was on hand to say a few words.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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Yahoo is promoting the new Flickr redesign in New York's Times Square.

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The "internet" had petitioned Melissa Mayer to make "Flickr awesome again..."

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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Part of today's news included Yahoo's aquisition of Tumblr.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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But the stunner was the new free full terabyte of storage for each Flickr user.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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The redesign of the site has a much more 'photo-friendly' feeling. Less text, pinterest-style tiled galleries... and "full size" photos throughout.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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Social sharing is to be easy.

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A new Android ap will enable direct uploads from phones.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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Looks nice, right?

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After the presentation there was a Q&A with Melissa Mayer, Adam Cahan, and Markus Spiering.

Updated:Caption:Photo:Sarah Tew / CBS Interactive
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