Instagram co-founders stepping down: report

Instagram co-founders Kevin Systrom and Mike Krieger have resigned and plan to leave the social media company in the coming weeks, The New York Times reported Monday, citing sources with direct knowledge of the matter.

Systrom, Instagram’s CEO, and Krieger, the chief technical officer, didn’t provide a reason for their departure, according to the Times. The Times reported that they informed Instagram and Facebook officials on Monday of their decision to resign.

{mosads}Systrom and Krieger plan to take time off after leaving Instagram, according to the Times.

Instagram, a photo- and video-sharing social media app, was created in 2010 by Systrom and Krieger, who met that year and built the app. 

Facebook bought Instagram in 2012 for $1 billion.