dearJulius.com Write For Us

Instagram co-founders step down from company

SHARE:

An iPhone displays the photo-sharing app Instagram in Washington, D.C. on April 9, 2012. On Monday, the Instagram co-founders stepped down, about six years after selling the company to Facebook for $1 billion. File Photo by Kevin Dietsch/UPI

By Ray Downs, UPI

The founders of Instagram on Monday announced they will step down from the popular social media company.

Instagram CEO Kevin Systrom, and his co-founder, Mike Krieger, sold the company to Facebook in 2012 for $1 billion. Despite the sale, they remained at the helm of the photo-sharing site. But on Monday, Systrom announced they are "ready for our next chapter."

"We're planning on taking some time off to explore our curiosity and creativity again," Systrom said in a statement. "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."

He added: "We remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion. We look forward to watching what these innovative and extraordinary companies do next.

Instagram has been one of Facebook's most successful acquisitions. The site had about 30 million users when it was purchased in 2012. By June of this year, that number reached 1 billion.

As the number of users increased, so has the value of the company.

In the same month Instagram reached 1 billion users, Bloomberg Intelligence valued the company at more than $100 billion.

COMMENTS



Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...

Name

Alabama,1,Arizona,1,Barack,1,California,3,Colorado,1,Connecticut,1,Crime,531,Florida,1,Franc,1,Hawaii,8,Illinois,1,Los Angeles,2,Massachusetts,3,Mississippi,1,New York,127,U.S.,1552,Washington,4,
ltr
item
U.S. - U.S. Daily News: Instagram co-founders step down from company
Instagram co-founders step down from company
https://3.bp.blogspot.com/-oIt1gA4kkig/W6nDh6rAs3I/AAAAAAABATo/HeWvZdLMJJ0WHZT7rIpKdcUKYyKJJIBUQCEwYBhgL/s1600/2.jpg
https://3.bp.blogspot.com/-oIt1gA4kkig/W6nDh6rAs3I/AAAAAAABATo/HeWvZdLMJJ0WHZT7rIpKdcUKYyKJJIBUQCEwYBhgL/s72-c/2.jpg
U.S. - U.S. Daily News
https://us.dailynews.us.com/2018/09/instagram-co-founders-step-down-from.html
https://us.dailynews.us.com/
https://us.dailynews.us.com/
https://us.dailynews.us.com/2018/09/instagram-co-founders-step-down-from.html
true
3263844984480124152
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy