Instagram co-founders Kevin Systrom and Mike Krieger are leaving the smartphone photo-sharing service bought by Facebook six years ago for a billion dollars, the New York Times reported late Monday citing unnamed sources.
Systrom and Krieger have resigned from their posts as chief executive and chief technology officer respectively, not giving reasons and saying they planned to take time off, according to the Times.
Facebook did not respond to a request for comment.
Instagram in June announced it passed a billion active users, and unveiled a new long-form video feature in a bid to attract “creators” like those on YouTube.
It became the fourth Facebook platform to eclipse the billion-user mark, including the namesake social network with more than two billion users, and the messaging applications WhatsApp and Messenger.
Facebook acquired Instagram in April 2012 for a combination of cash and stock worth some $1 billion at the time.
Instagram has been a hit with young internet users, an audience that Facebook is keen to keep in its fold.
Emeh Achanga,the CEO of the Miss Petite Nigeria Brand is a lawyer turned blogger. She is very passionate about writing, with several publications and awards to her credit .She is currently working on publishing a collection of short stories which are basically a memoir about her exciting true experiences.
