A complete redesign and 1 terabyte of storage -- for free. Yahoo! (NASDAQ:YHOO) CEO Marissa Mayer isn't messing around. The company's photo-sharing site, Flickr, now poses an even greater threat to Facebook's (NASDAQ:FB) Instagram.

Yahoo! undoubtedly had Facebook's Instagram in mind as the company worked on rolling out this major update. Facebook CEO Mark Zuckerberg has recently boasted about Instagram's success in terms of both growth and advertising.

In the video below, Fool contributor Daniel Sparks explains what Flickr's redesign means for investors.

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