Instagram CEO, co-founder abruptly resign to 'explore curiosity and creativity again'

Instagram CEO Kevin Systrom and Mike Krieger will step down in the coming weeks.

September 25, 2018, 6:24 AM

Instagram's co-founders announced their resignations on Monday, but the creative duo hinted about a possible collaboration in the near future.

Instagram CEO Kevin Systrom and co-founder Mike Krieger will step down from the company they founded eight years ago to “explore curiosity and creativity again,” according to a statement.

"Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team,” Systrom said. “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."

They expect to depart within the next few weeks, according to the statement.

There was no explanation for the sudden departure and Facebook, which acquired the photo-sharing app for $1 billion in 2012, said it wished them well.

“Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents,” Facebook CEO Mark Zuckerberg. “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.”

Systrom did not say if he planned to create another app in the near future, but he signaled that he and Krieger could be working together soon.

“We’re planning on taking some time off to explore our curiosity and creativity again,” Systrom said. “Building new things requires that we step back, understand what inspires us and match that with what the world needs; that’s what we plan to do.

“We’re now ready for our next chapter,” he added.

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