What just happened? One of the web's oldest properties is getting a fresh coat of paint. In partnership with design firm Pentagram, Yahoo on Monday unveiled a "refresh of its visual identity" that "captures the exuberant personality of the brand and reimagines it for the future."

It's the first significant change to Yahoo's branding since the company's previous logo was introduced in 2013. Fortunately, this was a decidedly less drawn-out affair. If you recall, then-CEO Marissa Mayer conducted a month-long public campaign before unveiling the first new logo for Yahoo in nearly 20 years.

Pentagram is well-respected in the design space, having previously developed identities for companies like Citibank, United Airlines, The Daily Show and college football's Big Ten Conference.

The firm said it stuck with Yahoo's signature purple color which it adopted in 2003 but refined the palette to make it more contemporary. The new Yahoo now uses a shade called "grape jelly" with secondary purples known as "hulk pants" and "malbec" as accent colors. Great names, no?

"The 'y' and '!' of the logo are both set at an angle of 22.5 degrees, the basis for a visual language built around angles and incremental slices."

That angle is apparently precisely 1/16th of a circle. There's a bunch of other artistic significance tucked into the new design as well. Those interested in learning more are encouraged to check out Pentagram's post on the matter.

The new brand identity coincides with the launch of other new products including a reimagined Yahoo Mail app.