USA: Instagram Co-founders Resign from Social Media Company

FILE - Kevin Systrom, CEO and co-founder of Instagram, prepares for Wednesday's announcement about IGTV in San Francisco, June 19, 2018.

Share this trending news with friends

SAN FRANCISCO — The co-founders of Instagram are resigning from their positions with the social media company.

Chief Executive Kevin Systrom said in a statement late Monday that he and Mike Krieger plan to leave the company in the next few weeks.

Krieger is the chief technical officer. They founded the photo-sharing app in 2010 and sold it to Facebook in 2012 for about $1 billion.

There was no immediate word on why they chose to leave the company but Systrom says they plan to take time off to explore their creativity again.

FILE – Apps for WhatsApp, Facebook, Instagram and other social networks are seen on a smartphone in Chennai, March 22, 2018.

Representatives for Instagram and Facebook didn’t immediately respond to after-hours messages from The Associated Press.

Instagram has seen explosive growth since its founding, with an estimated 1 billion monthly users and 2 million advertisers.
– Associated Press