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Instagram co-founders resign from social media company

Kevin Systrom and Mike Krieger founded the photo-sharing app in 2010 and sold it to Facebook in 2012 for about $1 billion.

September 25, 2018 09:13 am | Updated 10:21 am IST - SAN FRANCISCO:

AP
In this December 12, 2013 file photo, Instagram co-founder Kevin Systrom introduces a new feature, Instagram Direct, that lets users share photos and videos with up to 15 people rather than everyone who follows them on the popular photo-sharing app, at a news conference in New York.

In this December 12, 2013 file photo, Instagram co-founder Kevin Systrom introduces a new feature, Instagram Direct, that lets users share photos and videos with up to 15 people rather than everyone who follows them on the popular photo-sharing app, at a news conference in New York.

The co-founders of Instagram are resigning 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.

Mr. Krieger is 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 Mr. Systrom says they plan to take time off to explore their creativity again.

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.

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