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Instagram Co-Founders Resign

Chile, somebody is shaking the table at Instagram headquarters that now co-founders Kevin Systrom and Mike Krieger are stepping down from their respective roles as CEO and CTO at the image- and video-sharing giant, which is owned by Facebook.

According to Variety.com:

Systrom confirmed the move in a blog post Monday evening, following an earlier report by the New York Times about the duo’s departure. In the post, Systrom said he and Krieger plan to take time off “to explore our curiosity and creativity again.”

Systrom and Krieger, fellow Stanford alums, founded Instagram in 2010. Facebook acquired Instagram two years later for $1 billion — and it has since grown to a community of more than 1 billion monthly users.

“Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team,” Systrom wrote. “We’ve grown from 13 people to over a thousand with offices around the world, all while building products used and loved by a community of over one billion. We’re now ready for our next chapter.” Facebook CEO Mark Zuckerberg, in a statement, said, “Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents. I’ve learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I’m looking forward to seeing what they build next.”

An Instagram rep declined to provide additional comment. It’s not clear who will assume day-to-day management of Instagram with the co-founders’ exits.

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