David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- It's a big day for Yahoo. A few hours after announcing its $1.1 billion acquisition of Tumblr, Yahoo announced some major updates to its Flickr photo-sharing service.

"Tonight is about Flickr," Yahoo CEO Marissa Mayer said at an event in New York City Monday evening. "It is about that other 'R' brand and how we can make Flickr awesome again."

To that end, Yahoo announced three main changes to Flickr: a cleaner design, a new Android app and much more storage space than any competing photo service offers.

The new design scraps all the white space and blue links for large photos. Every user profile has a full-lead image or a cover photo, and below that a user's large photos are displayed in a grid. When users visit other profiles, they will see the same layout. There's also a photo stream page, which will bring in photos from people you follow.

Those big photos are a crucial part to the new parts of the service, Mayer and SVP of mobile products Adam Cahan said Monday evening. Those photos are uploaded in full resolution. "We never want you to compromise a single pixel at Flickr," Cahan said from the stage.

While Facebook and other photo services compress photos when uploading, Flickr will upload the full resolution image -- every pixel at the full size, no degradation. Google announced last week that its photo service, which is integrated into Google Plus, will also allow users to view and upload full-resolution images taken on phones or with digital cameras.

Yahoo, however, is planning to stand out from Google in one key way when it comes to photos. Yahoo will offer everyone a full free terabyte of storage space to users. Google offers 15GB of free space; it charges $49.99 a month for a terabyte of space.

"No other tech company has ever offered a terabyte of storage," Cahan said. A terabyte, which Yahoo says is basically like offering unlimited storage, can house more than a half a million photos (537,731 photos to be exact).

Yahoo plans to roll out the new features Monday at Flickr.com and release a new Android app. The company also plans to remind people about Flickr, which was once a very popular photo-sharing service before the days of Facebook, with a new marketing campaign. The advertising efforts will kick off with 11 billboards in New York's Times Square.

Mayer, who took over as CEO of Yahoo in July 2012, has worked to turn the company around. In addition to the Tumblr acquisition, which is her largest acquisition to date, she has announced refreshes to Yahoo Mail and Flickr's iPhone app.  

Copyright 2013 ABC News Radio

Hemera/Thinkstock(NEW YORK) -- Investors on Monday took a timeout from the bull market. Declining stocks in the same top-performing sectors pulled the markets down.

The Dow Jones Industrial Average lost 19.12 points, or 0.1 percent, closing at 15,335.28 Monday. The Nasdaq Composite closed off two points, or 0.1 percent, at 3,496.43. The S&P 500 fell 1.18 points, or 0.1 percent, to 1,666.29.

The major markets rallied over the last week with help from strong corporate earnings, with the Dow climbing 1.6 percent, and the Nasdaq and S&P adding 1.8 percent and 2.1 percent, respectively.

As for this week, investors are likely cautious ahead of Federal Reserve Chairman Ben Bernanke's testimony to Congress on Wednesday. They'll be looking for signs that the Fed's easy monetary policy may be ending -- a factor that's been driving stock indeces to record highs.

Meanwhile, Yahoo! shares advanced following reports that the company is buying the popular blogging site, Tumblr, for  $1.1 billion. The move is intended to attract more advertising and younger users for the internet company.

Copyright 2013 ABC News Radio

GrubHub/Seamless(NEW YORK) -- It's late, you didn't have time to make dinner, and now you're in the mood for sushi. Chances are, you reach for your phone, fire up either the Seamless or GrubHub app, sort by restaurant, select your meal, place your order and wait for the delivery person to knock on your door.

Soon, those two food app companies will become one. Seamless and GrubHub announced Monday that they will be merging.

However, that doesn't mean the apps themselves will become one, at least for now.

"We have the luxury of having two amazing brands right now. Honestly, we don't have plans to consolidate brands at this time," Matt Maloney, CEO and co-founder of GrubHub, told ABC News. "We are looking to position ourselves as a combined unit within this massive industry."

The deal still awaits regulatory approval to become final.

Maloney will become the CEO of the combined company, while Seamless CEO Jonathan Zabusky will serve as president. The name of the combined company or the terms of the deal have not been released yet.

So why combine the companies if not for making the ultimate food takeout app? Maloney said it's all about driving more business to restaurants and creating a better experience for takeout fiends.

"The concept here is you have two companies which are very complimentary, solving much of the same problems on the same day," he said.

He pointed out that Seamless has built an "incredible iPad app," but GrubHub's tablet app for those looking to order from home isn't great. GrubHub, on the other hand, has in-restaurant tablet technology, which Seamless doesn't. The two companies can take advantage of the other's technology.

Additionally, the acquisition will expand the respective restaurant networks of both services. Those looking to order food in 500 cities across the U.S. to will be able to order from 20,000 local takeout restaurants under the combined company.

Other companies like Delivery.com and ChowNow are much smaller.

According to GrubHub and Seamless, last year the online and mobile platforms of both companies sent approximately $875 million in food sales to restaurants, resulting in combined revenue of over $100 million.

Ultimately, though, Maloney said, it's about the future of food delivery -- getting those sushi rolls faster and in a new way.

"We are going to be able to do some really cool stuff to redefine online ordering," he said.

Copyright 2013 ABC News Radio

iStockphoto/Thinkstock(WASHINGTON) -- It's graduation season. Did your teenager have to take a financial literacy course to don that cap and gown? Probably not.

According to the Council for Economic Education, as of 2011, 22 states required high school students to take an economics class -- the "supply and demand" type, not the "how to balance your checkbook type." Only 14 states offered personal finance as a high school class, either on its own or as part of the economics curriculum.

In a recent Credit.com telephone survey conducted by GfK Roper, more than 60 percent of parents said U.S. kids are not learning enough about how to manage their own money. More than 90 percent said they want financial literacy to be a mandatory high school course.

So why don't these parents teach their kids financial responsibility themselves? Because they don't think they can. When the National Foundation for Credit Counseling asked adults to grade their financial knowledge, 41 percent said they would give themselves a C, D or F.

Here are three tips from ABC’s Good Morning America consumer correspondent Elisabeth Leamy to help parents get started:

1. Don't take stuff that's not yours.

That's the kindergarten version. Here's the high school version: Don't buy stuff with money that's not yours. In other words, when you go off to college in the fall and you're offered all sorts of shiny credit cards, take a polite pass. Credit card debt is devastating. Save up your own money to buy your own stuff.

2. Be on time.

In kindergarten, we learn the importance of getting to class punctually so we don't get marked down. In high school, kids should learn the importance of paying their bills on time, so they don't get marked down. "Payment history" makes up the single biggest chunk of your credit score, 35 percent. That means simply paying your bills on time boosts your score tremendously and yet many adults believe paying late is no big deal. If you're a procrastinator, automate your payments to come straight out of your checking account so you get this right.

3. Get a good report card.

In kindergarten you get a report card. As an adult you get a credit report. Your credit report is a history of all your financial transactions and how well you handled them. Did you take on too much debt? Did you pay on time? You then get a credit score of between 300 and 850 based on that report. Your credit score is a numerical predictor of how likely you are to pay your debts.

Banks prefer to lend money to people with scores of 720 and above, so that's what we should all try for. Why? Because having a lower score costs you money. More math: If you have a credit score of 720, you can get a car loan at about 6 percent. If your score is 620, just 100 points lower, your interest rate will be about 12 percent. Over the course of a 3-year loan, for $25,000, the lower rate will save you $2,736 in interest!

A good credit score is crucial. And yet when EverFi, an education technology company, asked high school students what a good score is, most said 500 and more than a third believed 300 was a good score! Yes, yet another survey -- one of dozens I found as I researched this column. If we spent half as much time teaching kids financial literacy as we do studying their lack of it, that would be a start. And we can start with those basic lessons we all learned in kindergarten.

Copyright 2013 ABC News Radio

iStockphoto/Thinkstock(NEW YORK) -- The latest real estate boom to sweep America comes with all the trappings of luxurious living: custom-built swimming pools, gyms, full-length basketball courts and even airplane hangars. The only catch is that this time, the features are all buried underground.

The boom in bomb shelter sales over the past 15 years has taken the spartan 1950s notion of a fallout shelter and given it a makeover, according to the owners of three companies that make and sell shelters.

Now, custom installations can create 100,000-square foot underground dwellings that could hold dozens of people for months or years.

"You can have all your major amenities: TV, high power and high voltage (appliances)... horticulture rooms where you can grow vegetables and gardens, a full shower, all the amenities of your full home. We're not limiting what people can do," said Brad Roberson, marketing director for Rising S Company, which builds and installs custom shelters.

The basic requirements that most owners want in a shelter include air filtration systems to protect from nuclear, chemical and biological warfare, ventilation systems and a toilet system, as well as blast-proof and fallout-proof casing on the outside, he and other makers told ABC News.

But in addition to that, shelters can have "secret doors, hidden passageways, panic rooms, bulletproof glass," running water, toilets, showers and electricity, according to Roberson.

"Budget and imagination are the only limits," he said.

A bunker on the small side of 10 feet by 20 feet starts at about $54,000.  They go up from there to $10 million, Roberson said.

In the past 15 years, companies that make and sell underground bunkers have sprouted up around the country, mainly in the West and South, according to the founders of three companies.

"I think probably around the year 2000 we started seeing quite an increase in sales," said Sharon Packer, co-owner of Utah Shelter Systems in Draper, Utah.  Her company installs shelters made out of 10-foot wide concrete pipes linked together to create rooms six feet underground.

"People were concerned about the very real issue of possible effects on our computers.  'Y2K' started the upsurge, and for 13 years it's been a good steady business," Packer said.  "After 9/11 we had a big surge in the East, in New York."

Recently, fears of a nuclear armed Iran or North Korea have stoked the fear that a nationwide disaster would force residents to retreat to safety underground, to wait out nuclear fallout or social instability, Packer and others said.

"It's sad to say, the worse the state of affairs get, our government gets, the closer we see these policies the government is forcing down our throats, and foreign threats as well.  It inflames peoples' desire to give themselves a retreat," Roberson said.

"People are awakening to the threat," Packer said.  "A lot of it is the terrorist attacks, a lot of it is the economy.  People are concerned about having a government failure.  Some of it is Earth changes."

Copyright 2013 ABC News Radio

David Paul Morris/Bloomberg via Getty Images(SAN FRANCISCO) -- On Sunday, Yahoo’s board of directors approved the purchase of the social networking and blog site Tumblr for $1.1 billion, according to The Wall Street Journal.

Speculation that Yahoo would purchase Tumblr has been building for a while now, after Adweek reported that unnamed sources were expecting a deal. On Friday, Yahoo announced a press event on Monday in New York, Tumblr’s home town.

Under CEO Marissa Mayer’s leadership, Yahoo has purchased several startups as part of the company's efforts to reach a younger, more mobile audience. Tumblr, which is very popular with teens and young adults, is the largest and highest-profile purchase so far.

Tumblr’s founder and Chief Executive David Karp has said in the past that he does not care if Tumblr makes money, and last year the site generated $13 million in revenue – far short of the $1.1 billion Yahoo is reported to be paying for it.

Tumblr does have an expansive and growing user base, with 117 million unique users world-wide as of March of this year.

There has been no official word that Tumblr’s board has also approved the deal, The Wall Street Journal notes.

Yahoo stock dipped 0.23 percent, to $26.52, in trading Friday when the press event was announced.

Copyright 2013 ABC News Radio

David Paul Morris/Bloomberg via Getty Images(PALO ALTO, Calif.) -- 19-year-old Indian immigrant Diwank Singh Tomer has an impressive resume. The accomplished hacker and startup founder who initially enrolled in college in India quickly decided he would learn more by moving here and immersing himself in the Silicon Valley entrepreneurial scene.

And one of the world's most famous entrepreneurs agrees with him.

For the third year running, Peter Thiel, Facebook's first investor and the co-founder and former CEO of PayPal, is giving about 20 teenagers $100,000 each to drop out of college and launch a business.

The German immigrant's Thiel Foundation mentors the young entrepreneurs during the two-year fellowship as they pursue new advances in everything from robotics to fashion. But there's a catch. The recipients cannot be enrolled in school or employed during that time without special approval from the foundation. The idea is for fellows to immerse themselves entirely in the world of innovation.

There are some skeptics who point out that not every one of Thiel's fellows succeed. Some fail miserably. But the beauty of the tech world and those who reside in it is the ability to iterate quickly. Failure and the determination to try again is a huge part of that.

And besides, Thiel would argue that many of his fellows do succeed in spectacular fashion.

In the past two years, the fellows have launched more than 30 companies and raised more than $34 million in outside funding. The new crop of fellows was selected from a pool of more than 500 applicants from nearly 50 nations.

"When we created the fellowship more than two years ago, our intention was to help a small number of creative people learn and accomplish more than they might have otherwise," Thiel said in a statement. "To their great credit, they have exceeded our expectations, and inspired people of all ages by reminding them that qualities like intellectual curiosity, grit, and determination are more important than a degree in determining success in life."

The idea that a college education is highly overvalued sounds controversial. Everyone from the Obama administration to high school counselors seem to push students toward a university degree. And study after study shows that college graduates make more money and advance further than people who don't attend college.

But it's not necessarily for everyone, the Thiel Foundation argues, particularly with many students racking up student debt to pursue degrees that may never be worth the expense.

Thiel Foundation Vice President of Grants Mike Gibson said he can see technical certificates that confirm someone knows how to code, for example, being valuable. But this idea that a college degree makes someone qualified or that someone cannot be qualified without one, is bogus.

Tomer agrees.

He had been at college in India for less than a month when he decided "he had nothing to lose" by dropping out. He'd already launched a startup to help people learn to code, and the computer science major knew he could continue to teach himself how to code.

So, he bought a ticket to San Francisco, hopped on a plane and only called home to tell his parents he'd left for the United States when he landed.

"To drop out in India means failure," he said. But failure doesn't scare Tomer. In fact, he thinks it's an important part of the growing process.

The key to learning, he said, is to ask lots of questions, something he doesn't think traditional schools promote.

"Schools force you to appear smart," he said. "It's bad to ask questions."

People learn best, he said, when they have access to mentors and the ability to learn in a way that suits them. The Thiel Foundation is big on mentors - each fellow meets with them throughout the two-year fellowship.

In Tomer's case, that approach has produced something interesting. The biking enthusiast is using his foundation funding to launch a new interactive learning environment based on his earlier coding venture.

He wants to launch a site that will allow people to learn about different topics - he's focused on coding and applied sciences - at their own pace with the help of his program. He's developed an algorithm that will respond to the user's actions. If someone wants to learn about a small area of coding and then do a deep dive into it before moving on, the program will prod the user in that direction by taking cues from the ways they interact with the site. If someone wants to get a breadth of knowledge before focusing on depth - Tomer's preferred style - that's fine too.

He thinks he'll need to hire a couple of engineers and a designer, but says his ability to code means he's capable of remaining at the helm.

Although he's only been in the Bay Area about eight months, Tomer plans to stay for good. He lives in a "hacker house" in Palo Alto with a bunch of other like-minded young people looking to strike entrepreneurial gold.

Tomer wouldn't say so himself - but he's an example of what a young entrepreneur with perseverance and a high tolerance for failure can accomplish by taking an unconventional path. The worst thing that can happen is that he has to go home and back to college. With that knowledge, Tomer said, coming to the hotbed of innovation was worth every bit of risk.

Copyright 2013 ABC News Radio